Stock Watcher's Thread / Pix of the Week (POW) Message Board

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Strategies & Market Trends : Stock Watcher's Thread / Pix of the Week (POW)

VEEV 240.86

+0.3%

Nov 26 3:59 PM EST

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To: Stock Watcher who wrote (13276)	8/10/1999 7:00:00 PM
From: hoffy	Read Replies (3) of 52051

Bottom? I have to disagree. I know everyone is hoping for a bottom but there are no indications of it. There has been no panic selling. The market internals are very ugly. Advance/decline line is not good. The transports are getting crushed falling below moving average. The upcoming rate increase is pretty much assumed but there will be continued concern over another increase in October. Those worries will be around for a while. The market hates uncertainty. I think we will hit a bottom somewhere between 2100-2300 on the Nasdaq. 2300 will be a 20% correction from the high (a true bear market). I think we are headed there. IMHO.

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