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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Peace who wrote (42025)	2/5/2001 3:02:26 PM
From: sirinam	Read Replies (1) of 42787

Peace 2496 for .618 retracement for the Naz, not 2596, if I calculate well.Also,from briefing.com: Updated: 05-Feb-01 General Commentary Buyers stepped to the sidelines on Friday creating a one-way market headed south... The tech dominated Nasdaq staged its largest one-day retreat since the Friday following the last rate cut... Hmmm.. Looking back to the January 3rd cut, the sector rallied big on the day of the surprise announcement, only to drop 13% over the next three sessions (from peak to trough)... For what it's worth, a similar move in response to last week's rate cut would bring the Nasdaq back to the 2500 area... Interestingly enough, that also happens to represent the 62% retracement of the 1/3/01 to 1/31/01 rally. Fortunately, there's at least one good support level before we get to that floor... It's at 2618..

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