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Non-Tech : S&P Midcap 400 Portfolio (^MID, MDY)
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To: Londo who started this subject10/12/2001 2:15:26 AM
From: Londo   of 181
 
Market outlook:

^VIX is approaching 32-33.. I think this will mark an intermediate top in the market.

In normal times, a ^VIX of 32-33 would imply some mild panic, but these aren't normal times.. there needs to be ONE last FINAL flush before we can clearly see a market bottom.. and then I'll be buying like mad, just when I try to read the headlines saying "Another sucker rally.. the market's never coming back!"

I project that the Nasdaq will hit 1450 again.. the technicians will make their self-fufilling prophecy of a double bottom (i.e. a retest).. and the ^VIX will have to reach the same gut-wrenching levels of 50-55 before all is said and done.

Now, it is a matter of patience, and capital preservation.
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