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Strategies & Market Trends : Angels of Alchemy
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To: Whiteboy who wrote (23635)12/20/2000 4:11:06 AM
From: SirRealist   of 24256
 
Who was it that said stocks only go UP? A shortist, no doubt. I think Kevin may have called it.... Wednesday bottom and Thursday gapper. I doubt we'll get any warnings the day before Christmas or the week after.

Logic would suggest it's no time for bottom fish while tax loss selling continues ... and maybe Friday 12/29 will suck.

I kinda expect one more bottom the second week of January, because if memory serves me, there's only a few bigs that week and I think they're mostly semis and YHOO.... none of which inspires.

And optical unlocks are gonna start weighing heavy in the next 35 days.... as will that slew of IPOs that occurred in July.

I dunno about capitulation. The best I can chart it says look for CSCO at 37 and NASDy at 2422, so the latter doesn't seem capitulatory.... more of a surprise reversal point as most TA points to 2350.

Wherever December's bottom is, I suspect we'll find it today though.
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