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To: kha vu who wrote (11255)	4/11/2000 7:39:00 AM
From: Vendit™	Read Replies (1) of 19374

Hi kha vu The 50 MA is not a point of resistance as much as it is a point of reference. If you notice in the chart below which is of a 1 year time frame you will see it is normal for the NASDAQ to trade just above its 50 MA. There are only a few occasions when it corrected and dipped below that level. 208.240.76.45 The NASDAQ over the past 6 months has no doubt gotten way ahead of itself and needed this move back down in order to re-base and find a new footing. It would be safe to assume that a 50% pull back of its gains from November where it started this run up until its record high was set would be a good place to base. That is a run from 3000 to 5100 so 1/2 of that is about 1050 points. Subtracting 1050 from 5100 would make a new base at about 4050. That figure also is in sync with the area it last moved to after last Tuesdays bashing. (my numbers are rounded) Today will tell the story whether I am correct or not. Reid

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