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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: Haim R. Branisteanu who wrote (72855)10/29/1999 6:54:00 PM
From: NickSE  Read Replies (1) of 86076
 
Haim,

I just caught NBC running a segment on the market and they stated that investors poured $9 BILLION into the market last month. Simply amazing! With the recent volatility and near breakdown in the indices, everyone continues to dump money into stocks without a care in the world. It's going to take a miracle to take this market down. Y2K could be it, but consider the way things have been going for the bears, I'd say it'll be a non-event.

IRS Bugged by 2000
washingtonpost.com

the volume on NASDQ smells more like a blowing top type of volume not the start of a new rally.

Re: NASD...

With the new highs today, there's no resistance levels for me to gauge on the P&F chart. Based on the recent action, I calculated a 3,200± price objective which also coincides with the upper trading band of 3,150±. P&F support levels are all the way down at 2,640 (minor) and 2,490 (bullish support line).

Regards,
Nick
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