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Strategies & Market Trends : gem-x's incredibly accurate Elliott Wave forecasts.

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To: mishedlo who wrote (356)	8/12/2001 1:14:35 PM
From: KymarFye	Read Replies (1) of 2290

Don't know about EBAY taking a 70% hit (stranger things have happened - in fact, they're not so strange), but it does look on the verge of a breakdown - after poorly formed cup-and-handle, weak breakout, now turned into a head-and-shoulders, bounced off the neckline Friday. If it breaks 60, there's a good chance of a bounce in and around 55-6, then a great chance for a visit to the middle low 40s. Planning on the low 20s or high 10s - Fall '98 prices - is pretty ambitiously bearish, IMO, even if the Nasdaq crashes to new lows for the year. The stock may be over-priced, but it's not a total fraud. If you're taking total market implosion to the bank, then I have to wonder - which bank?

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