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Pastimes : Ask Mohan about the Market
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To: John Hunt who wrote (9863)12/1/1997 1:46:00 PM
From: Cynic 2005  Read Replies (2) of 18056
 
John and all:
Dow wants to get back over 8000.
1. If the 8000 resistance level holds and not so alarming profit warnings come out, we may be in a trading range.
2. If the 8000 test fails and profit warnings are severe (from high profile companies) we will get back to 7000 in a hurry.
3. If the 8000 resistance is taken out, and profit warnings are of no consequence, we will see 9000 before we see 7000. Then, all hell will break loose.

My sense is that #2 and #1 are more likely - yes I may be speaking through my positions. #3 is unlikely, but be prepared.

-Mohan
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