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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Boplicity who wrote (5488)10/4/2000 11:41:54 AM
From: Jim Willie CB  Read Replies (2) of 65232
 
Ralph Bloch of RayJames makes a couple good points

first, he notes a few stocks have not been hurt with warnings
notably Computer Assoc is slightly up today after warning
a few other stocks traded even after warning in recent days
good sign of a bottom

then he paints two scenarios
--1--
stablize here, then recover into a nice trading rally
(that means it gets choppy with selling for profits)
then proceed with recovery and resumption of uptrend
(read: double bottom)

--2--
capitulation climax selloff, followed by long sustained rally over weeks or months
(flush out sellers, getting it over with)

I tend to see scenario#1 unfolding
too much slow bleeding here with optimism for Q4/yearend

bear in mind that Bloch is a perenniel bear
but his TA skills are rather sharp
/ Jim
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