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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: DebtBomb who wrote (54268)4/22/2002 12:34:29 PM
From: augieboo  Read Replies (1) of 99280
 
Jeff Applegate, chief U.S. strategist at Lehman Brothers, said in a recent note that the sector could fall another 35 percent.

"Since the sector is still 15 percent of the market, that, in turn, would imply a 5 percent drop in market price.

Hmm.. This was published Sunday, and the previous (Friday's) Naz close was 1796. 5% of that is 89+ points, which would put us at 1707. And that doesn't count the fact that once things start sliding, other sectors go along for the ride.

Yep, if Applegate is right, then Zeev's target (1617 plus minus 30) looks pretty good.
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