Ask DrBob Message Board - Msg: 15812474

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Strategies & Market Trends : Ask DrBob

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To: longdong_63 who wrote (33887)	5/17/2001 3:46:18 AM
From: Drbob512	of 100058

LD: If Nasdaq can get to 2500 this time, then it could set up a large decline this June and July. I still go with my prognostication that the technical rally from the early April lows will peter out in May, resulting in lower prices in June. Some of the techs such as JNPR were not overbought at the time the indicators were breaking down for the last couple of weeks, but remember they can stay oversold for a while, especially when the Nasdaq is coming down hard, which has not happened, so far. I see this rally as one to sell into rather than to buy unless you are a daytrader. Would take a lot for the technicals to turn bullish for the Nasdaq.

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