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Strategies & Market Trends : The New Economy and its Winners

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To: 16yearcycle who wrote (3440)	11/26/2000 3:35:34 PM
From: Mark Fowler	Read Replies (1) of 57684

Gene i'm ready for a Bush victory tonight. However, Gore might contest again if he cannot manufacture more votes from Bush. It might be over with tonight? Maybe!!! I see a good chance we are approaching some cycle low here for the Ndx, Compx, and could see it sometime during the first week of Dec. stockcharts.com Friday we gapped and closed strong. The weekly chart shows a doji stick which usually shows ST reversals, so some type of short term rally. I'm going to stay on the defensive (scalp mode on some stocks) until we move up over resistance, 2897 -3000, and i see more long setups. I'll say could make a new cycle low in first part of Dec., on some technical backing and filling of Friday's gap, then hopefully it's rebuilding time, a time to flip back to holding long positions again for techs. Same goes for the IIX. We could rally for most part of Dec.(election pending?) as we approach the FED meeting, market will be anticipating their decision to move rates into the neutral zone...will see? The one big Question that still looms over this market is have most of the sell-side analyst finished cutting earnings ests. for next yr? The spread on corporate yields still suggest there are earnings and credit quality concerns for next yr. The 4th qtr. earnings could be a real bitch to sit thru!

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