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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: HairBall who wrote (83032)	4/11/2002 10:40:14 PM
From: bobby beara	Read Replies (2) of 99985

I saw your post regarding the DotComs. <<<< actually i was referring to the telecom (& by default the networking) sector, which is the key to the bear market bottom in techs. my elliot count puts the telecom sector in it's fifth wave down from the bull market high from the dec 01 top, and the fifth of five starting at the march top. I was expecting a bottom in the last week or two (oh well -g-), but it appears that we may need more weakness and there could be some more negative news in this area, such as a belly-up, i would be careful bottom fishing here until we get some signs that the bulls are taking back control The bad news today, GE broke the feb support, the good news GE is now officially a dogs of the dow stock =gg=, who wudda thunk it. stockcharts.com

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