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

To: James Strauss who wrote (34052)	10/3/2000 10:43:26 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 50167

I think so too... I think we might see a bit of a rally here for the next few days, however minimal this rally might be... although the markets could surprise everyone here and run up more than most expect into the end of this week... there are just too many bears around to make these markets move lower right now.....IMHO GZ

To: James Strauss who wrote (34052)	10/3/2000 11:26:32 AM
From: Peace	Read Replies (1) \| Respond to of 50167

Hi Jim, We need to take out 3600-3650 on the NDX first. If we manage that I think we can move up to the 3800-3850 area. However, I do feel that we have one more downswing left and we may find a bottom in the 3350-3400 area. I don't think we will need to test the May lows, at least not yet. For long term investors this is a huge buying opportunity. However, as Iqbal suggested some puts should be bought as insurance. This market has priced in a lot of negative outlook and everyone is scared to buy. A couple of weeks later when earnings are flowing in earnest I think the sentiment will slowly change and we will work higher in to the end of the year. P/C ratio closed at 0.72 the highest closing level since May. In the past lows have been found a few days following a high reading. Peace