DAYTRADING Fundamentals Message Board

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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Threei who wrote (8570)	5/27/2000 2:37:00 PM
From: TraderAlan	Read Replies (1) of 18137

Vad, We are so conditioned for the capitulation event. This sure smells different, especially after that 5th wave parabolic event we saw from 10/99 to 3/00. But you have to take a giant step back. If you look at the Nasdaq index on the weekly, there is no bear market. This is still just a bull correction from the move that started in fall, 1998. The pattern says we could get a monster double top on that longer term chart. The markets should start to come back 1) if/when they smell the end of the Fed tightening cycle or 2) Microsoft settles in a way that the company doesn't get crushed and it can actually rally. I personally don't think many Net stocks will ever come back. Just take one look at Digital Island or a few hundred other ones. Thats no correction. Thats obliteration. 90% loss of value in 60 days. But their capitalization in the indices isn't that great and if there is now reduced liquidity, if it focuses on just the Nasdaq-100, the market could move up 2,000 pts pretty easy. Alan

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