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Strategies & Market Trends : Angels of Alchemy -- Ignore unavailable to you. Want to Upgrade?

To: johnsto1 who wrote (110)	5/22/2000 2:20:00 PM
From: Dr. Mitchell R. White	Respond to of 24256

Yo John, 2800 maybe? Yes, although the "exact" number is hard to pinpoint. One analyst was just quoted on CNBC that the NASQAQ would seek support at the next level, supposedly around 3000. So we may see a short attempt thereabouts, perhaps even today. Me, I don't know. I'm thinking we go on down below that on momentum alone, as the psychology seems to have turned strongly negative on the market as a whole. Deals that 2 months ago would have pumped the involved stocks up 10+% are now uniformly tanking the stocks who attempt to deal. It has nothing to do with the merits of the deal! Just the FACT that the two companies are talking "deal" gets both stocks heading down, usually ahead of the market overall. Bad sign, very bad sign.... Mitch