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Strategies & Market Trends : Sharck Soup
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To: DlphcOracl who wrote (16267)4/15/2001 7:50:58 PM
From: GREENLAW4-7  Read Replies (2) of 37746
 
DO regarding nasd. I have been very shocked at what I am hearing the last 3 weeks with the few E. reports. I believe things are a lot worse then they were in late december. The nasd P/E is now above 250 again as the earnings crater faster then the stocks. I left out hope that the chips would show signs of improving fundamentals but they.continue to detereriate.

I believe NASD could rally over the next 1-2 weeks upto the 2200-2300 range but I really would not be surprised if this rally stops at 2000 like a brick-wall!

I see EUROPE as the next shoe to drop, and when it does NASD will be hit by more earnings warnings, this will take her to the 1000-1300 range by late June early July. Then a rally in aug-early sept back to the 1700-1900 area, but the market will sell-off to the sub 1000 range in October!!

Also I see DOW hitting the skids and taking NASD with her as she enters her bear market in late april early may. With DOW stocks going through the same earnings compression as the nasd did she will tank through the summer to the 7500-8200 range.

Just remember OCTOBER will be a massacre!!

Chips will take the hardest hit!! Looking at historical data.

Good luck!! For the record I am currently long Bio's, drillers, and CORVIS. Short chips, RIMM and QLGC
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