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Biotech / Medical : VD's Model Portfolio & Discussion Thread
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To: Vector1 who wrote (8312)10/7/2000 2:12:01 PM
From: CYBERKEN  Read Replies (1) of 9719
 
I agree about concern, especially regarding the NASDAQ, which is 34.5% below its high, but 27.7% above its 52-week low. Friday seemed to show some panic selling psychology. If there are a few positive earnings surprises in the next 2 weeks it could stabilize the downturn, but I doubt we will see a strong rally until at least after the election, whence that political uncertainty will be eliminated. I also think we are seeing some early tax-selling, and that such selling will be heavier than usual this year. Looking out after that, there will be a lot of cash looking to get invested, between the tax-selling proceeds and year-end funding of 401(k)'s, etc. We could see a nice rally into the end of the year, or in January.

And now that I've said that, I suppose there will be a huge 9-month run-up beginning with the opening bell Monday (:->)...
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