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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.92

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Nov 7 4:00 PM EST

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To: Les H who wrote (65113)	12/23/2000 8:53:49 PM
From: Gary Burton	Read Replies (1) of 99985

Les--my impression based on historical examples is that when manias burst, they go BELOW where the mania part started....btw..maybe Arch will be right and there will be an explosion starting Jan26. but when I look at a host of tech stocks this weekend, almost all of them give me the sense that they need one last low--eg MSFT and on and on and on...hey maybe Arch is talking about the SPX and INDU?---btw(2)..http://www.thestreet.com/p/comment/wrongrear/1226514/html btw(3)--Hays' actual words on Fri 830am were.."I now believe that Phase 2 of the Nazdaq's bear mkt is 'essentially' over and 'after a few weeks of scares,fits and starts' will experience( a more durable Bounce)..Today(Fri) is a very strong seasonal period.I'm not going to plunge in today..I will give you one warning.I do not expect the market to change its stripes entirely...I will take the next few weeks and continue to drip my money into the market" We shall see!

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