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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.
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To: Tom Allinder who wrote (75153)12/20/2000 7:28:52 PM
From: CIMA  Read Replies (2) of 150070
 
From Russ Reports:

russreports.com

Last month (Nov.), I sent an email to a friend, who I do a little
business with, telling him of my target projection on the NASDAQ. I
mentioned to him the charts that I use told me the NASDAQ could go down
to 2450. With my 1.5% - 2% margin of error, I was close to being
correct today. I sent him an email today (this morning) telling him
that the bottom support could be 2300 on the NASDAQ. I sure hope that I
am right on that, however, I did a little more chart work this afternoon
and took the WORST CASE SCENARIO that I could and it is possible (but
not probable) that the NASDAQ could still drop - at least on an interim
daily basis - to 1850. This number was provided by doing a Horizontal
count (too technical to explain now) from the Sept. high of 4250 on the
P&F chart. I then did another Horizontal count from a recent double top
made in Dec. at the 3000 mark on the NASDAQ. That count gave me a
bottom target of 1650-1700 which is very close to substantiating the
1850 mark taken from Sept.
Now, there could be action taken very shortly by the "Powers to be" that
could very well stall any further downward action and that action SHOULD
BE TAKEN NOW to prevent a PANIC SELL-OFF by the little investor which
has not happened yet.

So, take care and hope that my projection is WRONG for this latest chart
work - but the 2450 mark was hit and broken. The 2300 hopefully should
hold but be prepared for more suffering if it happens.

Russ
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