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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Gary D who wrote (13984)5/28/2000 3:49:00 PM
From: Chris J. Horne  Read Replies (1) of 15132
 
"I am wondering what the upside potential is for the SPY in a counter trend rally"

I think the potential is low and here is why:
- The NASD is about 38% off of its high, while the S&P500 is only about 11% off of its high. NASD is a big bear, and the S&P is hardly in correction territory.
- Since Jan 11, when Bob issued his sell signal, the NASD is off 17.5% and the S&P is only off 4,4%.

I think Bob is basing the call for a NASD rally on technical reasons...the NASD is oversold. The same reasoning does not apply to the S&P 500.

Just my 2 cents.
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