From Hahn's site, updated last night:
Hahn's update:
>>This page was updated on: Saturday, December 23, 2000 2:57 PM
The first trading day after Christmas promises to be very interesting. Daily
and intraday time cycles point to Tuesday, December 26 as a trend change
day, and I'm worried that a higher Nasdaq market on Tuesday will be
aggressively sold. The best scenario would be for a weaker NASDAQ on
Tuesday, December 26 that doesn't plunge below critical support levels. There
may be margin call liquidations lingering from the Wednesday, Dec. 20
plunge. NASDAQ does not have much air under it, but, the DJIA and SPX
are looking precarious, with many key components in overbought condition.
In theory, a relatively strong SPX and DJIA on Tuesday should be shorted. A
relatively weak NASDAQ on Tuesday should be bought. Important note: I'm
not very interested in shorting stocks right now because of the potential for a
strong bear market rally, especially in NASDAQ |
