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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: jef saunders who wrote (22566)	3/31/2000 6:01:00 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 42787

>>if s+p starts going up a lot by noon, i'd bet on the naz drop to be over.<< I think you can count on a solid SP rally beginning today...<g> Best Regards, GZ

To: jef saunders who wrote (22566)	3/31/2000 7:41:00 AM
From: Lee Lichterman III	Read Replies (2) \| Respond to of 42787

>>could you see naz at 3500 or 4000?<< Of course I could see a NAZ at 3500 or 4000. Since the 80+% rally at teh end of last year and the 20% rally this year, we cold retrace 50% of that move and still be considered to be in a bull market. Actually if you pull upa weekly chart and connect the tops of Oct 97, Apr 98 and Jul 98 with the bottoms of Mar 99, Jun 99 and Aug 99, you get some pretty firm support,....at around 2850 and the line is still steeply sloping up. We went way too far too fast to be healthy and a correction back to histoical norms would actually be healthier for teh market long term. Of course I don't feel this is a healthy market and I suspect the increase over the last 8 months has been a blow off top in the making. The only thing increasing expodentially has been PE ratios. The PEGs have actually become quite skewed as earings growth has in creased around 20% while stock prices have risen 100s of percent. Of course the problem is the blow off top of a 17 years bull market could last a while so we could drag this out for quite some time. Good Luck, Lee