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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Mr. BSL who wrote (10290)10/9/2000 4:08:00 PM
From: Alan Whirlwind  Read Replies (2) of 42834
 
Nasdaq 3355.56 -5.45 (-0.16%)
Nasdaq Volume 1,420,790,000

I see we did retest 3250 today on quite heavy volume (though the tech volume maybe not convincing) and then rebounded to almost break even. I should think the worst is over (maybe one more retest?). However, we must continue to watch the war sentiment in the Middle East--they're picking a rather nasty time to begin acting up. Notice how the Clinton Administration says today 15% of the SS fund into the market: why not? Looks like a beautiful five year bull once this election is over should this actually come about. Since we're not out of the woods yet as to the chances of an oil shock due to developments in the Middle East, we need to wait a month or two to see if higher oil prices and recession result from present Middle Eastern mess. However, I consider December to be an out-of-the-woods kind of a month. Retail sales up and Christmas rally with falling oil prices.
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