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To: Peace who wrote (28925)	9/1/2000 3:03:51 PM
From: dennis michael patterson	Read Replies (2) \| Respond to of 42787

>>my guess is we will not see any significant decline and we will take out the July highs convincingly sooner rather than later.<< OK, but based on what? I personally have no idea whether we will take out the old highs or not. I can be flexible. The point is to explain WHY one has a belief or guess. I think that is Don's point (don't intend to put words in his mouth). Right or wrong, the point is to have an ANALYSIS to support one's assertions. In that way, we can see how conclusions are generated and, more importantly, whether any given approach can be improved upon. The problem with guesses is that they are sui generis.

To: Peace who wrote (28925)	9/1/2000 4:17:50 PM
From: donald sew	Read Replies (1) \| Respond to of 42787

Peace, >>>> Keep in mind that the NDX has essentially been rallying for 3 weeks now and has gained over 600 points. The rally lost steam today because we had a huge up day and there is some profit taking <<<< Are you saying that it cant be more than a little profit taking. And what is profit taking in terms of actual point decline, no more than a 50 point decline in the DOW? My short-term tops are as small as 75-150 DOW points. I think you need to keep in mind that markets dont go straight up or straight down. What you call profit taking is that the move is still in a straight line. Am I sure that the market wont continue to go straight up, no Im not. All I said in my post was that