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Strategies & Market Trends : Steve's Channelling Thread

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To: U.B. Green who wrote (8719)	12/7/2000 6:20:10 PM
From: Zeev Hed	Read Replies (1) of 30051

I don't see any reason to change that target yet. We made new lows earlier this week without any extreme readings in the tic, the rally after the low, while the biggest ever, was not accompanied with extremely positive tic, nor did it have a follow through. Earlier today, I liked the fact that INTC was bucking the trend, and bought in, but when it failed to gather wind and actually threatened to make a new low, I jumped out. In the after market it is tepidly higher, not much volume I presume, so my guess is that it is still a "fake out". I am still above 50% cash, and do not mind to wait until Monday before redeploying some of it. I still think that any year end rally (including early January) will be stopped at the 3150 or so level. Zeev

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