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Pastimes : Home on the range where the buffalo roam

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To: Boplicity who wrote (10024)	2/10/2001 10:56:42 PM
From: bela_ghoulashi	Read Replies (2) of 13572

From one of Yahoo's best posters: messages.yahoo.com MAJOR Nasdaq Support by: tonytechcomm (38/M/Cincinnati, OH) 02/10/01 09:47 pm EST Msg: 27611 of 27621 There is MASSIVE, long-term Nasdaq trendline support at 2400. While support levels don't always hold, this is the exact same trendline that supported the NASDAQ during the 1990 recession, the 1994/95 drop and the Asian Crisis in 1998. The NASDAQ has never closed a month below this support line. Again, support levels are broken all of the time, but trends that have repeatedly held, and have existed for a long period of time (the longer the better, and this one is over 10 years old), have far better odds of holding. We've never even closed a week below that trendline -- only briefly going below it intra-week during the week of 10/5/1999. If you want to short, at least wait to see what happens at 2400. The likelihood of an explosive move upward from there is very high IMO. Best wishes! Tony

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