Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: pressboxjr who wrote (7957)	2/20/2001 2:31:13 PM
From: James Strauss	Read Replies (1) of 13094

Jr: You may be right about the Nasdaq bottoming in the 1800 to 1900 area... That's where it was in 1998... Note the panic selling bottom that dipped below 1500... bigcharts.com The New Lows on the Nasdaq have now crept up to 1 1/2 times the New Highs... finance.yahoo.com This suggests another round of selling... The Dow continues its battle to successfully vault the 11,000 area... bigcharts.com The retreating economic climate is putting too much pressure on equities... But, we haven't seen major capitulation yet... We may very well have to see the kind of panic dumping that we saw in 1998 to wring out the last vestige of irrational exuberance in the tech heavyweights... For now, cash is king for most investors... Jim

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