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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 670.92+0.1%Nov 7 4:00 PM EST

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To: bobby beara who wrote (79564)7/6/2001 2:26:34 PM
From: t2  Read Replies (2) of 99985
 
bb, Where do you see the Nasdaq going near term?

Does this seem anything like the late March decline?
A setup for a rally?

I don't have as strong a feeling about a rebound as I did at the end of March. Again, the Friday afternoon factor may help the Nasdaq recover but who knows.

Believe selective names..software and PCs should do OK but only if the rest of the market stabilizes.

Still feel that Intel will be the key stock that dictates Nasdaq direction....upgrades, downgrades, buyback of stock, earnings etc..
IBM may also be a factor...doubts about its earnings and outlook for next quarter...depends upon what they have to say at earnings. Has been solid for a while.
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