MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.57

+0.7%

Dec 10 4:00 PM EST

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To: bobby beara who wrote (71128)	3/3/2001 8:55:02 PM
From: el paradisio	Read Replies (1) of 99985

I don't think Nasdaq is going below 2000 right now. It will stay in 1990 channel for at least two month. Networking sector is due for upswing, CSCO is very oversold and I can see a lot of support in 20- 22 area . stockcharts.com[w,a]dacayimy[df][pb50!b200!f][vc60][iUb14!Lf!Lc20!La12,26,9] If you look in the past, always after penetration of major support line...we had market rallies, like in 1987 or 1998. You may say...this time is different, but as long as we don't see visible recession on the streets...it's not a disaster. Look at AMAT swing last week from 39 to 49.... Don't think...I'm a perma bull, but I think Nasdaq may go up now...not down. Targets...2450-2600 Regards, el

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