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Politics : Idea Of The Day

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To: GROUND ZERO™ who wrote (33005)	9/12/2000 4:40:54 PM
From: Peace	Read Replies (3) of 50167

Hi GZ, Just when you gave up on the long side, I think we put in a bottom today <g> I have been focussing my analysis on the NDX . The 62% retracement has worked very well this year with this index. The rally from May lows to the July high was 62% of the previous decline. The decline from July into August came in at 59%. We then rallied 806 NDX points into September. The current decline into todays low of 3645 brought this retracemnet to 62%. The current decline is also a very clean ABC correction from 9/1. The A wave lasted 3 days and 310 points, B was a quick 126 point 1 day affair followed by 318 point 3 day decline into today. A and C are equal in time and size. I think we have a perfect setup for a bottom right here at cycle lows. Any decline below 3600 will force me to switch sides. <g> Peace

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