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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (8329)	11/29/2000 5:39:46 PM
From: Logain Ablar	Read Replies (2) of 30051

Zeev: We'll we break 2,630 tomorrow and then we have 2,230 area on the naz. Scary part is money is rotating to defensive stocks and financials. With a hard landing these will roll over. Just a matter of time. Also remember TA support and resistances don't hold in bear markets. With the collateral damage in the NAZ the FED already has its slowdown. The scary part is the last 500 basis points are just now impacting the economy (Happy Holidays AG). We'll I've been wrong since mid Oct with my pics except for some gas & transports (non tech). They won't be safe but should hold up till Feb / March. RMBS has an investor conference call tomorrow afternoon to discuss business outlook and its litigation. Should be worth a bounce but I'm not sure if I'll play it. If we get past 1200 on the tic or $32 I buy some. Notice two of our favorites today QLGC and EMLX. QLGC didn't bounce as hard but that is probably due to BRCD's earnings today. Not sure of the bottom in these two but when the market rallies these two should be good for 30% (and if you can get them on the v spike, your speciality not mine, it can be 50%). Best. Tim

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