Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: HairBall who wrote (35863)	3/1/2002 6:31:29 PM
From: Zeev Hed	Read Replies (5) of 99280

LG, I agree with you, I think that the 1600 (1638 or so) is the real support of the Naz (horizontal line) and that the late September breach of that line was an aberration. In the next major bear move, it is quite possible that that support at the low 1600 will be breached (I have that "potentiality" as soon as late June, and if post the spring rally we drop and hold, then we could have a breach in October.) Right now, such a breach is not in the cards, but if we continue declines as we had in February, without developing major capitulation (where da boys can really accumulate inventory <g>), then such a breach could really become a "clear and present" danger. I still think (until I change my mind) that the worst case will be stopped around 1300 (I have a 1296 nominal figure as the potential bottom right now). Zeev

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