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Strategies & Market Trends : Sharck Soup
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To: DlphcOracl who wrote (23901)5/19/2001 1:36:34 PM
From: StormRider  Read Replies (2) of 37746
 
change of heart since last monday? here's what you said then (post #22808)

"Electric: Here's how I see it.
1. Fed lowers rates by .50 points.
2. Market has a brief reflex rally, but nothing overly dramatic.
3. Next 3-4 weeks grind along with bias to the downside, being exacerbated and picking up pace as we get into the heart of the Q2 earnings warning season.
4. NASDAQ will retest its April 4 low, but will NOT hit 1640. Rather, I think this "retest" will bounce at a higher level (1750-1800).
5. This will then lead into a sharp, brief (3-5 month) bull market, which takes NASDAQ to 2600-2800 range. "

i happen to agree with what you said last monday and i'm sticking to that belief.
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