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Strategies & Market Trends : Waiting for the big Kahuna
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To: Bull RidaH who wrote (15564)4/6/1998 2:03:00 PM
From: Bull RidaH   of 94695
 
Re: Nasdaq market action. The Wall Street Journal Article on Microsoft blew my scenario of an early morning rally (damn sharks!! stealing our meat!!) Of course, the rally to the 1248 target would have played out with the strong open had it not been for Jaws4. so the key level now becomes 1220 on the NDX, which is the opposite target of the 1248 that SHOULD have been reached this morning. As long as we close below this area today, and continue to trend lower, the scenario discussed is very much intact, albeit with slightly higher bottom targets which i'll update later.

Yours,

David
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