How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 459.38

-2.4%

Jan 14 3:59 PM EST

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To: t2 who wrote (13226)	12/16/1998 4:11:00 PM
From: Gerald Walls	of 74651

I am trying to figure out how an impeachment vote affects the market. My gut feeling says that the markets go down before a vote and up after a vote to impeach.(Of course if no impeachment the markets will go straight up afterwards). From today's (12/16) IBD: ... Taking a wider technical view, the Dow's recent pullback can be seen as the near-completion of a "cup-with-handle" base. ... The Dow and other averages traced out similar patterns coming out of the '90 bear market. Like this year's bear, that market topped in July, bottomed in early October and rallied into December. Then it formed a handle in late December and early January '91. The positive technical action came against a negative news backdrop in which the economy had fallen into recession and the country was preparing for war with Iraq. The war started in mid-January, which is when the market broke out of its handle and run up 20% in seven weeks. Despite the market's bullish technical configuration, the conventional wisdom was that stocks would plunge when shooting started in the Mideast. But they did just the opposite. There's been talk recently, mostly from non-market types, that stocks are vulnerable to a sell-off if President Clinton is impeached and/or removed from office. <end of article>

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