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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.27

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Dec 26 4:00 PM EST

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To: Clint E. who wrote (22651)	8/9/1999 3:49:00 PM
From: space cadet	Read Replies (1) of 69276

clint, I agree. naz looks lousy. I've been out for a while. Finally got out in time before the mm's could kill me. Don't know why I didn't short stuff in mid July. I knew the market then was ridiculously overvalued/overextended. Finally starting to see some reasonable values appearing in the techs. I believe we will have some playable rallies for the next couple of months for the fleet of fingers. However the overall pattern is still down till late September/early October. Then I expect at least a brief pre-earnings related rally even if the rest of '99 sucks. Famous last words but I think the internuts are finally done for. In fact, the biotechs just established their first new high since '92 and I expect a similar 7 year gap now for the internuts. Yhoo, aol, exds, dclk, the leaders will probably be all right and back to their old highs within a year or three but the amzns and pclns of the world should never recover IMO.

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