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Politics : Idea Of The Day

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To: magicslr who wrote (32353)	7/31/2000 3:27:50 PM
From: James Strauss	Read Replies (1) of 50167

A BEAR Bounce??? ***************** Is today's up move a new advance or just a BEAR market rally? A look at the Nasdaq statistics shows the Advancers almost equal to the decliners, and the New Lows almost 4 times greater than the New Highs... finance.yahoo.com This leaves me a bit suspicious about this move today... We need to see a closing above 3760 to break the downtrend of the past week... bigcharts.com We also need to see some friendly economic numbers this week to quiet the FED fear... In the meantime we're bound to see the schizophrenic nature of this market continue with mood swings from elation to despair... Today it's time for elation... Tomorrow??? Once the 8/23 FED meeting is in the books we should see a more predictable market... For now, it's better to try and avoid the whipsaws until the downtrend is broken, and the FED is not an issue... Jim

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