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To: limtex who wrote (13246)4/14/2000 1:16:00 PM
From: Jim Willie CB  Read Replies (3) | Respond to of 35685
 
I wish I had a firm handle on the Naz low honestly

January support at 3800-3900 was ramrodded

a 5/8 retracement from rise of 2950 to 5050 is 3700-3750
that is now gone in the rubble

no significant Naz support between 2950 and 3800 !!!
this fact scares me, and I dont scare easily
recall I was a drug dealer years back, been held up at gunpoint

minor reversals for Naz at 3600 and 3400 around December

we are at the mercy of the deeppocketed Houses
just hope they dont have Pokeymons in those pockets
every time my hands enter my pockets, they find a monster also

seems to me that Houses are waiting for last of margin calls among retail investors, for last of oldstyle executions of walkingdead hedge funds (who were heavily playing second tier tech highflyers)

seems to me that no single House wants to be first out announcing they are buyers

seems to me that the Houses are waiting for Sexified Abby Joseph Cohen to stand tall and speak out confidently for Naz support
(she is probably under pressure to speak about NYSE first)

I wont make a stand here, since between 3000 and 3800,
we are in NO MAN'S LAND

my suspicion is that 3400-3500 will hold for Naz
I dont think the Houses will tolerate a complete evaporation of the Y2K tech rally that began last October at 2950

watchful, not hoping, and in need of a shave
/ Jim Willie