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Technology Stocks : Semi Equipment Analysis
SOXX 296.74+1.8%Nov 28 4:00 PM EST
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To: robert b furman who wrote (5587)9/23/2002 11:59:05 AM
From: The Ox  Read Replies (1) of 95487
 
I disagree. Mainly because it's too early to say the the DOW has finished it's 5 wave down. (especially since my DOW target has been 6500 for a long time <ng>)

I think that most of the worst possible scenario has been priced into the NASDAQ but that the DOW hasn't seen this completely factored in yet. Since the DOW will more or less dictate the direction of the rest of the market, the NASDAQ has farther to fall as it will be pulled down by the drop in the DOW. At some point the market will recognize that there is more upside potential to the NASDAQ components than downside but I stand in the camp that says we still have some work to do before we can complete this bear cycle.
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