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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (27986)	9/19/2001 11:52:13 AM
From: LTK007	Read Replies (1) of 30051

Dow -202, Nasdaq -45, S&P -17.45 : [BRIEFING.COM] The major drop to start the week was anticipated and many took heart in the fact that the markets were open again. Today's action, however, is disheartening as both the Dow and the Nasdaq continue to plunge. The year-to-date performance for the Nasdaq has now matched the ugly loss of last year (-39%) with the Dow down 19.5% thus far. The market is back in a defensive mode with little other than gold on the upside with minor gains in publishing and defense. Pacing the way on the downside are energy, software, biotech, semiconductor and computer-hardware. Reports from CNN that an aircraft carrier is heading to the Mediterranean has contributed to today's uneasiness. Volume is strong with market internals very weak. SOX -4.3%... DOT -4.6%... XOI -2.7%... BTK -4.9%...

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