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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (50938)4/10/2001 7:58:05 PM
From: Gary105  Read Replies (1) of 94695
 
GZ and Bill

First GZ, whats your basis for the rally? is it a fear induced rally (contrarian)? other? oversold??

Now to both: would like your comments on the following scenario - Bill predicts Nas of 500 based on analogy to 1929 to early 30's. Taking analogy a step further, the market did not go straight down. it tanked 48%, recovered 48% then tanked 86%. Naz tanked about 67% from peak, 67% recovery would put it at 2850 - an earlier point of support, now a key resistance. The key point is that the market can mimic the 1929 - early 30's have a considerable rally and then fall flat on its face (or it can rally and hold). Comments welcome
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