Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: Bucky Katt who wrote (9028)	6/14/2001 2:00:29 PM
From: James Strauss	Read Replies (5) of 13094

I think the FED is running out of "magic" bullets, and I don't see much support anywhere it this point, and that may change, and the Wall Street ipo machine seems broken too. William: Your market concerns have been right on!! bigcharts.com The Nasdaq is now testing an intraday double bottom in the 2060 area... That's just a hair's breath away from the recent 2057 low... We've seen 2175 and 2125 fall... We've seen 2100 push back the slide several times... Now we see 2057 circling the wagons... If that doesn't hold, there is light support in the 1900 area... If that doesn't hold, there is light support in the 1700 area... After that it's the April bottom at 1600... Given all the negativity it's likely that we'll see a retest of the 1600 area... The G.E./European Union impasse has far reaching economic consequences... It's interesting that two American Companies need the approval of the EU to merge... There is CNBC talk regarding a possible price war between the U.S. and the EU if this merger dies on the vine... It's surprising that the EU had no concerns when Mercedes Benz and Chrysler got together and gave Mercedes a bigger footprint in the U.S. markets... Maybe George Bush should send the CIA director in to negotiate like he did in the Middle East... I'll bet he can make them an offer they can't refuse... That's how it's done these days... : > Jim

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