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To: robjohnson who wrote (15886)	4/23/2000 11:25:00 AM
From: Jim Willie CB	Read Replies (2) \| Respond to of 35685

I expect Naz to be bounded from above by MovingAvgs, which are 10% above current level, somewhere like 3950-4000 I expect Naz support below to be questionable... more catalysts like MSFT woes or other troublesome news, and we will have renewed pressure at Naz 3200-3300... Intel news and MSFT news were not good earnings reports at all... Naz is at a critical TA chart juncture now Greenspan is 95% likely to hike rates on May16th at FOMC... this is totally uncharted ground for the Fed... in one hand they are tightening as labor force and retail spending is causing pressures... but on the other hand they are adding liquidity to the financial markets BEHIND THE SCENES in the form of S&P (and NAZ) futures floor setting never seen such a conflicted FED policy in my adult life repositioning by retail investors almost NEVER goes into 2nd, 3rd tier stocks... it starts with bignames, then works its way down the tiers while simultaneously the lower tiers might continue to withstand shock waves and airpockets no comment on stocks I like I love QCOM, but especially in midsummer / jim