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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (8351)	9/23/1999 10:48:00 PM
From: James Clarke	Read Replies (2) of 79003

What institutional investors were talking about after the close today wasn't so much the Microsoft comment, but rather that the Dow went through a significant support level like a hot knife through butter. And the S+P went through a minor support level. This is what may spook institutions from buying at the open tomorrow. If the market opens down tomorrow, or turns down in the first hour, we bears are going to have some fun for a change. I'm picking my levels for stocks like Clayton Homes, which is already at an absurd level but probably has not bottomed yet. We need some huge volume to finish this one off. I'll buy into that and make my stand. I'm also starting to pick my dream prices for things like Gillette and Wrigley. They're still 20-30% away from where I would start buying, but the way they're going they could get there in a hurry. JJC

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