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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: TRINDY who wrote (5114)	9/15/2000 12:44:21 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

Trindy, thanks for the kind words. I think that so far we are more on less on target, and while I mentioned about two weeks ago that we could have a max risk all the way to 3550 on the Naz, I thing that we are pretty close to the bottom of this decline. As to the failure to take out the 4270 area, my experience has been that you need to have three tries to break through significant overhead resistance. We had two so far, and right now,I see no reasons that we do not break through on the next rally. If we break 3550, then I have to move to the side lines much earlier than I thought. We are soon getting into earning season, starting with Micron, I believe, and I do not see why this should not be a good "season", add to that the election and Summers injection of liquidity through treasuries repurchases, i think that short term, the bias will be up. As for the nuclear winter, I am not sure what they mean, but if that refers to some of the disastrous predictions a la Pretcher (I do not know what his current target was but for years he was warning of a 80% or 90% collapse of the same order as the 1929 debacle, and he was left on the sidelines in this roaring bull), I do not subscribe to these, I do have a range of 6000 to 12500 or so on the Dow and 1900 to 5200 on the Naz for quite a number of years coming, if that is a nuclear winter, well, than yes, think that severe bear markets have not been eradicated. I believe that the current breakout of QCOM is the first sign of the silver lining in this predawn darkness. One of the weakest stock attracting strong buying should raise some eyebrows. Zeev irrevolute.iuma.com