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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: puborectalis who wrote (62934)9/23/1999 10:46:00 PM
From: Susan G  Read Replies (1) of 120523
 
I think SPX 1300 was even more important than Dow 10400, as many slight variations on Dow support were targeted. But it seems like everyone agreed on 1300 being critical, I actually think the selling was preprogrammed to be instantaneous the next time the S & P index came within a few points of that level. It had hit earlier today and yesterday, this was the 3rd bounce I believe. The fact that so many were fixated on the 1300 level is why it dropped so fast - everyone knew what a critical break it was.
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