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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: Crimson Ghost who wrote (68804)	2/9/2001 9:21:07 PM
From: Zeev Hed	Read Replies (3) of 99985

George, I think that was a wise move, I myself started to move back in gradually earlier in the day and before 3:30, I was down to only 30% cash (from more than 70% at the close last night). However, I do not think this is the "real bottom" yet, I see this as a relief rally (after a possible weak opening Monday) lasting till about Wed/Thurs (with as usual a very volatile Friday) next week and resumption of the decline. I have a "best case target top" fo 2650, but I will be surprised if it gets that high. After that, I see resumption of the decline, and have not changed my target of 2200/2300 on the Naz by March 9th, which I think will be a very strong bottom this time, leading to maybe a 40% rally to, tentatively, 3050 to 3150 on the Naz. Zeev

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