Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Bosco who wrote (844)	4/4/2000 1:12:00 PM
From: Bosco	Respond to of 30051

No good, 3,800 is breached

To: Bosco who wrote (844)	4/4/2000 1:13:00 PM
From: Zeev Hed	Respond to of 30051

Bosco, I have been out all day myself and as I said yesterday, I promised myself not to look at the market for fear of finding "too many bargains". Cash is surely nice. The Naz Tick has now reached what I believe is an unprecedented -1700, the worst I remember seeing was -1200 or so. It sure means that a major bounce is around the corner, but it also means that the back of this bull market is broken and rallies are going to be "false rallies". We have reached and breached my target of 3800 on the naz, and the market went through it like through butter. You will be better off to see the nature of the bounce and see who are the new leaders before making sizeable commitments, IMHO. I suggested last week that the break of 4600 will lead to a rapid move to 3800, but frankly, in my book, rapid was late May, with a rally in the first two weeks of April before that happens. I'll have to rewrite this chapter. Zeev