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To: Larry S. who wrote (24257)	9/12/2000 9:51:45 PM
From: Larry S.	Read Replies (1) \| Respond to of 53068

Nas - on the Cusp- again: quote.yahoo.com^IXIC&d=5y My take: Nas needs to retest the 3500-3600 area of July-August and hold it in order to have higher lows and higher highs since the march-april sell-off. If we fail to hold 3500-3600, then think we have to retest 3200. If the NAS is viewed with a 5 year perspective, it is a real fine stock pattern. the index got carried away in late 99 and early 2000 and we have paid for that. Technology remains the most vibrant sector of the US economy. Only time will tell whether this test of 3500-3600 will be successful. The last hold-outs of the mighty large cap techs: INTC< CSCO and SUNW still have yet to crumble. CSCO appears to want to retest 52. that is fine. SUNW and INTC remain the strongest big techs. they need not crumble. I also wonder how accurate the NAS index is right now in terms of measuring small cap and mid cap performance. On the upside, the NAS was skewed by MSFT, INTC, CSCO, YHOO, SUNW, WCOM etc, the big guys who are all huge cappers. MSFT, CSCO, WCOM, YHOO have all been very weak for the past 4 months. perhaps a 1-year chart of the Russell 1000 gives a better picture of overall strength: quote.yahoo.com^RUI&d=1y larry