Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

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To: shasta23 who wrote (25906)	4/3/2000 3:38:00 PM
From: j g cordes	Read Replies (1) of 68130

Stephan.. I had a Naz intraday low target in this down cycle at about 4100. MSFT is amplifying the fear factor and can as easily stabilize the tech sector. Remember that 1/3, 1/2, 2/3rd retracements on extreme runups aren't that unusual, though if you haven't seen them before its pretty scary. If we do get a bounce look for 50% retrace of recent losses per individual issue, not racing back to new highs. Some companies don't survive this kind of pounding, especially those where insiders are cashing out of their own business dream while the going is good. Others will do fine.

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