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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: JRI who wrote (1211)2/27/2001 6:47:31 AM
From: donald sew  Read Replies (1) of 52237
 
JRI,

>>>> : Can there really be an extended rally on rate-cut speculation alone? <<<<

I think there are quite a few that would agree. As mentioned previously, the probability of a retest is high for declines of 7%+, and if GREENSPAN doesnt cut rates this week, then that could be the stimilus for that retest.

I think the more important question is whether the retest significantly fails or not - significant failure in terms of more than a hundred points on the NDX. I mention it since it is not uncommon for the retest to be a lower low prior to a more significant rally. For now, if there is a retest, I feel that the downside limit of that specific downleg should be around 1850 on the NDX, if it gets that low.
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