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To: fedhead who wrote (102797)	5/4/2000 4:38:00 PM
From: Mark Fowler	Respond to of 164684

So you don't think the NASDAQ will breach the recent lows ?<< No it could spike down lower if the market wants to price in more rate hikes. I'll say we have two more price in and possibly three at the lows. I think Nas will be range bound between approx 3400 and 4200 for the most part until the Fed is done. Too, it looks like most of the new economy tech stocks have seen there lows however i think many will come back to retest. .

To: fedhead who wrote (102797)	5/4/2000 5:07:00 PM
From: schrodingers_cat	Respond to of 164684

>So you don't think the NASDAQ will breach the recent lows ? I think that if it was going to do that then it would have happened last week when we had the bad news on MSFT and the bad employment cost index. My guess is that NAS stays above 3500 for next several weeks, or until we get some unexpected bad news. BTW half point Fed hike would not qualify as unexpected bad news IMO. A really bad CPI number (same day as Fed meeting) might qualify, as would a string of profit warnings from leading tech companies in mid-June, if stock turbulence somehow translates into lower sales.