Steve's Channelling Thread Message Board

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Strategies & Market Trends : Steve's Channelling Thread

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To: thesilenttype who wrote (28001)	9/19/2001 12:28:12 PM
From: Steve Lee	Read Replies (2) of 30051

I to am waiting for MSFT at 50 for a bounce. But it will only be a bounce IMO. And it will only be for a few days. I think the powers are holding the Comp at 1500 but it is defensive action only. They will only absorb the selling but not buy to take the market up. Maybe in 1987 they could afford to take the market up, but these days the bubble is so huge with market caps greater than any other economic number I know of. They would have to print a lot of money, not just lend out, in order to stop this market going down IMO. I think they know they can't hold the market up and have settled to lower the support levels a bit at a time.

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