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Strategies & Market Trends : MOVING NOW!

CTIC 9.090

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Jun 26 5:00 PM EST

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To: kendall harmon who wrote (1666)	10/15/2000 2:26:55 PM
From: Jerry Olson	Read Replies (7) of 8046

Well coming from you Kendall i appreciate that...thanks.. now on to very serious biz here... just a quick wake up call here about the markets...do not fall asleep at the wheel...this is not over by a long shot.. while i know this is a stock trading thread..it might be prudent to think about where we are going from here...and if the girls at the top think this is not proper please just let me know... so a quick summary of some looks i made at the P&F and candle charts for several indexs... all cycle low targets were demolished... so any bounce back up from here i would think will meet resistance overhead, known as a backside bounce... every chart i looked at will probably have trouble about the 20 sma on the daily???...and for P&F we are far out of the woods.. we all know it takes a minimum of 4-6 weeks to first confirm the trend change..and then these battered stocks have to regroup, rebuild if you will from off these lows...backing and filling... so if you begin to get starry eyed...put on sunglasses<G>...we are in NO way out of the woods... DJIA--BOUNCE BACK THRU TOUGH R AT 10,300/350 COULD CARRY IT TO 10,550-60 HARD R THERE... btw fwiw..i have said about 100 times here on SI, that all triple tops and bottoms correct...all low poles and high poles too...this was a triple bottom break at 10,550...and a low pole... SPX..BOUNCE BACK TARGET 1425.. OEX--740-750 IIX--465 BKX--840--850 NDX--3400/3450 NAZ/COMPX--3550/3600 Now if we make it back that far i would wait to see if we reverse back down toward cycle low dates at the end of this month...i have no idea if we'll make a higher low??, test the old lows.. or crash right thru...but do not get euphoric... i might also remind you...that with 3.9% empl...0.9% rertail sales...PPI at 0.9% and rising...consumer confidence still very high.. the FED is no longer out of the picture here..and my guess is after the election if things continue on this upward path, they may raise rates again... so if were doing so good??? how come all these big cap techs are warning??? forward looking statements will take these stocks down to levels we haven't seen before...i would still wait till the dust settles to make serious long term investments.. nibble?? sure...fully invest all your capital...nuts to that... some musings on a great Sunday here in Philly home of Tastykakes<VBG> regards OJ

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