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Strategies & Market Trends : Steve's Channelling Thread

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To: steve susko who wrote (5381)	9/21/2000 6:25:55 PM
From: Zeev Hed	Read Replies (4) of 30051

Those that hold support despite the coming massacre. Then there is a group that after the massacre has a good chance to bounce, including SCMR, QLGC, EMLX, but I would step aside until you actually see a reversal in the tic (we are going to get -1200 on the Naz, right?) accompanied by a sharp reversal of the Trin from possibly 4.00 down to the 1.5 (all guesses so far). I am not sure if tomorrow's massacre will not set the stage for a real three days major move down, including a black Monday and a reversal Tuesday, taking out 3550 and retesting the year low at 3050. I did not know yesterday that INTC was going to warn, but reducing exposure was not a bad idea, now there is ample of cash to redeploy in what could be a very oversold market. Those turnips really fooled me on this one, we were supposed to have a bottom in place last Friday not this Friday or next Tuesday, or who knows when. I need new turnips (g). Zeev

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