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To: Sir Francis Drake who wrote (7717)	4/4/2000 10:01:00 PM
From: theniteowl	Respond to of 10027

Morgan, today was definitely a great day to show that no rule can be carved in stone, but one has to pick a level with the best of their knowledge in order to make some contingency plans. In the Edwards and Magee book it is stated that there are many exceptions to the scenarios outlined and this point is repeated throughout the book, so I will continue to keep this in mind. Thanks.

To: Sir Francis Drake who wrote (7717)	4/4/2000 11:47:00 PM
From: t2	Read Replies (2) \| Respond to of 10027

OT Morgan, Glad to see your posts again. Wondering what your take is on the "need" to retest today's lows on the Nasdaq so widely predicted by the usual bears that i have seen on CNBC for a while. Lately, the TA on the Nasdaq market seems dead on while in the past--I use to take TA's view and do the opposite, especially when most called for declines. I limited that type of approach to the months -October to January. Could it be just the time of the year that a lot of selling of high PE stocks take place? As a result it fits in with TA theories? I wonder how much of it has to do with daytraders that pick up on CNBC's coverage and mentions of support levels for the Naz and trigger a self fullfilling prophecy---hitting many investors' stop losses....and so on. Always interested in your views. TIA. BTW--My gut feeling is that the rally may be short unless it is explosive in nature. Earnings could drive the Naz but I have to see the rally before making up my mind.