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Biotech / Medical : Biotech & Pharma.T.A,

BIB 80.24

-0.5%

Dec 12 4:00 PM EST

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To: Jibacoa who wrote (2223)	2/6/2008 4:27:36 PM
From: Jibacoa	of 3722

Well, if I remember how was the usual market's behavior in previous bear periods,the downside pressure was usually worse on Mondays & Tuesdays with some recovering in midweek & starting to decline again by late Fridays.<g> Today it seemed that things were going to start that same old pattern, but the up move didn't last until the end of the session, apparently because of some comments by the FED's Philadelphia President, Charles Plosser, who spoke against overly aggressive rate cuts. bigcharts.marketwatch.com But at least, the DOW closed above the 12,000 level & is still above its Jan 22 L of 11508 <g> bigcharts.marketwatch.com Now I guess will have to keep a close eye on what it will do the rest of the week.<g> A drop below the Jan 22 L could bring it to the 11,000 support level & as previously mentioned, if we get the same 39.73% "correction" from the Oct H of 14279 it would be a drop of 5673 points, or to the 8606 level, but if we get only a 30% "correction", then drop would be only of 4284 points from the Oct H to the 10000 level.<g> bigcharts.marketwatch.com Bernard

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