MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 694.04

+0.7%

Jan 9 4:00 PM EST

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To: HairBall who started this subject	3/1/2001 1:22:47 PM
From: David Howe	Read Replies (2) of 99985

Well, the rally didn't materialize. AG didn't cut rates and the recent lows didn't hold. 2100 has just now broken. My guess is that the selling will accelerate and some time in the next couple of weeks we'll see Nasdaq 1800 or thereabouts. At that point their should be some kind of climactic event (ie. volume or bearishness spike) and real buying will return. AG should then lower rates. That's the next rally opportunity that will be worth buying, IMO. Anyone else think this scenario is likely? Dave

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