Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (43605)	9/24/1999 4:42:00 PM
From: B.REVERE	Read Replies (1) of 94695

What indicies are you watching? Dow and spx broke support yesterday and failed to rally today.This is from this morning's briefing comments and these guys are always bullish. 09:15 ET: With the Dow and S&P taking out key support levels yesterday, it seems likely that bears will be putting pressure on the bulls in early trading... One unique aspect of the selloff was that tech bellwethers still remain close to their highs and have plenty of room still to give... Thus, if their condition continues to deteriorate (we suspect it will), any signs of strength are likely to be deemed selling opportunities ... A silver lining to the equity losses, though, is that they have helped ease some of the Fed concerns for those who believe Greenspan & company are really targeting stocks... Merrill Lynch among the most active today on the research front with upgrades to Lehman Bros. (LEH), Motorola (MOT), Nokia (NOK), Ericsson (ERICY), CVS Corp. (CVS), and Pinnacle West (PNW).

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