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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: InvestLady who wrote (79389)	6/15/1999 9:23:00 AM
From: foolthis	Read Replies (1) of 119973

I doubt you'll see inets do much of anything but drift downward while the market is in a downtrend. INets may find support at 200 dma. If they crack those levels they'll freefall. I think a lot of what inets do will depend on what the market does. If rates continue to rise, long bond closed well over 6% last week, then the overall market will continue down. If the market continues down,inets will follow. I expect we'll see some panic selling before we see any sustained advance. This may even be the start of the correction of the market move up from August 1982, Dow INDU 700. If thats the case expect the dow to retrace 1/2 to 2/3 of up move. That would take us back to around Dow 5000 and last as long as three years. On the other hand, the market may only be correcting its most recent move up since October 1998. Because of the pattern of distribution I suspect its more than just the usual quick correction of the previous move. If the DOW does correct back to 5000, the problems will be to severe for most inets to survive without being bought out. Thseir burn rates are to sustain themselves for a 18 months. Just my thoughts and as usual I could be wrong.

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