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To: Jim Willie CB who wrote (17667)	5/5/2000 5:04:00 PM
From: Uncle Frank	Read Replies (1) of 35685

Good afternoon, Dr. O'Tay. A trader friend of mine by the name of Dino posed me a question to which I'm totally unqualified to respond. It regards the nasdaq, and the oft discussed matter of whether it has found its bottom yet. He suggests we are still at risk, based on the following: The put/call ratio is near a 5 year low. Mutual funds are at a 10 year low for cash positions (<3.5%). The nasdaq comp chart looks like a "negative flag formation in a down trend", which signifies 50% of the correction may be ahead of us. The compx's chart strongly resembles one described in Martin Pring's TA book (pages 81-84). Thanks in advance for your thoughts, JW. Since I have no idea what he's talking about, I told Dino I would seek comments from someone who will. I sure hope you understand what he's talking about <gg>. uf

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