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Politics : Idea Of The Day
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To: GROUND ZERO™ who wrote (32776)9/6/2000 5:07:00 PM
From: Rarebird  Read Replies (3) of 50167
 
Hi GZ! The NDX has very strong support at 3700. I expect that level will hold and attract aggressive buying, as well as short covering.

This is a much needed correction in an overall up trend. The Dow Jones Utilities hit a new high today, which tells me the intermediate term trend is bullish for all the Indices. Also, one cannot ignore the most recent new highs of the NYSE Composite Index, concurrent with the Value Line Averages.

This is clearly a great buying opportunity.

I see the Dow & S&P at new highs in October. 4500 is easily doable for the COMP.

PS I know you realize this; but many people need to understand that this is not the beginning of a major leg down. It's good to have the fear though.
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