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Pastimes : QQQ & DIA - chat & chart

QQQ 629.07

+0.5%

Oct 31 5:00 PM EST

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To: Jon Khymn who wrote (734)	9/24/2003 7:34:20 PM
From: Chris McConnel	Read Replies (1) of 795

Ugly day. Looks like the energizer-bunny-market needs to get it's batteries recharged. Over on Ihub, Whaz thinks the down move is about half over. Then we explode upwards. Whaz has made 80% on his QQQ trading this year, so i'm reluctant to bet against him. I'm lookiing for a spot to buy some calls, but have not made any decision where to buy them yet. The big problem for the bearish outlook right now is the liquidity, and the republican determination to win the next election. See the Jon Markman article: "The bears’ worst fears are coming true. The Bush administration hopes to ensure a second term by assuring investors that it’s dedicated to a strong economy. If the plan succeeds, you’ll have your pick of momentum all-stars to run with." moneycentral.msn.com Another example: "Around Washington, D.C., it's now an open secret that President George W. Bush and Federal Reserve Board Chairman Alan Greenspan struck a deal. Bush pre-appointed Greenspan to his fifth term in return for an unwritten pledge that the Fed would not raise the federal funds rate until after the 2004 election." industryweek.com Maybe the seasonal patterns just are not going to work this year.

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