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Technology Stocks : Stock Swap
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To: Investor2 who wrote (9614)11/13/1997 4:35:00 PM
From: Trader X  Read Replies (1) of 17305
 
Regarding bear markets -- Let's take a look at the Big Picture.

the Big Picture: a ten year monthly chart of the Naz -

chart1.bigcharts.com:80/report?state=0&trans=0&symb=nasdaq&r=chart&time=13&freq=3&compidx=aaaaa%3A0&ma=3&maval=10&uf=0&lf=4&type=4&style=8&size=3&sid=3291&sec=x&xyz=403063812&s=2261

Worth noting is that any decline above the 1400 level is just a CORRECTION.

Define Correction: a pullback of approx. 50% of the last major upthrust.

In the case of the Naz, this would include the summer rally
from about 1250 to 1700...a full 450 points.

Bottom line, the Naz can correct 50% of 450 from 1700, to about 1475,
and still be in the uptrend that started in 1995. Today's close of
1557 is 75 points above that level.

I'd mark this as a bear market if the Naz CLOSES below 1400.

cLastChanceForGas
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