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Politics : Idea Of The Day

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To: GROUND ZERO™ who wrote (34128)	10/3/2000 6:48:52 PM
From: Peace	Read Replies (2) of 50167

Hi GZ, Exhuberance or not, your calls have been right on the money, so no need for apologies. I dont see a crash here. I was expecting 3350 on the NDX as the downside and we are there. There is a lot of fear regarding earnings and that will change in due course. P/C ratio climbed to 0.76 after yesterday's 0.72. FTSE, DAX and Hangseng have actually diverged the selling in the US for the past week and a half. I view this selling as not being driven by global or local economic conditions but rather as a correction/consolidation of the huge bull run preceding this decline. We may get your target of 2900/3000 but I think this decline is going to run out of time fairly soon. Where ever we bottom, I think we are going to get one hell of a rally over the next few months. Peace

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