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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: SpecialK who wrote (33823)	9/29/2000 5:08:36 PM
From: SpecialK	Respond to of 50167

Markets - SOX stayed above 850, IIX above 500, Nasdaq above 3650, QQQ just below 89. This is support territory. The fact that Intel and AMAT fell apart and took the Sox and Nasdaq down with it doesn't mean this is the end. AMAT has 9 Os straight down at 59. 52 will be the next support from here, then 45. We are closer to bottom, looking 9 months out. However, I believe the 52 week high will linger as strong resistance, until this boom/bust is complete. Intel gapped down and has 21 Os straight down. 33-37 is the next support. It's hard to believe that earlier this year, we had MSFT, INTC, CSCO, and GE hovering around 500M market caps. The drops in MSFT, INTC, LU, QCOM, WCOM, AMAT, are hard to believe. Forgot YHOO. First the internets etailers got taken down, then software services, then telecoms, then B2B, then wireless, then semi equips, then semis, what's left, networkers, specifically optical group. Interesting that CSCO fell 4 to 55 today. 50 is next support. In May, it was the last to fall, it found support and then the markets rallied. In the Nasdaq, folks think of MSFT and INTC as the largest %, but CSCO now has the largest market cap there. If 50 fails to hold, it could see 33. Is this the Big Kahuna? do we get a crash 13 years after 1987? Does it happen the following Friday the 13th? Is the Fed going to cut rates this year? All I know is I'm happy September is over, good riddance. I'm happy October is here. Check out lowrisk.com sentiment indicators, 21% bullish, 61% bearish. Check put/call ratios. Check short ratios. Have rates come down? YES Is inflation, other than oil, under control? YES Is unemployment or employment cost an issue? NO How's the GDP growth? Good and not showing inflation. Are some stocks overvalued? YES Are there always some stocks overvalued? YES Are there many that are undervalued? YES Nov, Dec, Jan are the 3 best months to be in the market. September is the worst. These are historical numbers. Sorry for the long comments, but now is the time to buy January calls in all the companies you like. One more: Did Intel say lower earnings or lower revenues in their warning? Did they not say more income due to investment?