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Strategies & Market Trends : Angels of Alchemy

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To: Frederick Langford who wrote (24212)	1/15/2001 11:15:42 AM
From: Marshall001	Read Replies (1) of 24256

If I remember correctly, West was calling for 1300 on the NAS. I think thats where the problem lies. Correct or not, Its hard to pay any attention to anyone in the "Chicken Little" syndrome. Market is done dropping for now. If you look at the charts, The end of December was the end of the heavy selling. Once we got through that, The heavy, Nasdaq wide, selling pressure subsided a little. Now we have the new money coming into the market just like every year. All those shares that were sold off last year need to be bought back. My prediction all along was that we would not see a bottom till the end of the year.Now we trade in a range for a while. Should be between 3000 and 2300. But the market has a tendency to overdo things so it could be a little wider. If the fed gets aggressive again, We could see that range bumped up a bit maybe 2700 to 3300. If we do get any additional selling, It would be individual stocks now. We all expect warnings and slowdown. After about April, we could see the NAS drop lower if we still see signs of global economic slowdown. Nothing personal West.. I hope you were short and made a killing. I'll go back to my cave now. M

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