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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Mark Konrad who wrote (37290)	10/3/2000 5:46:33 PM
From: Lost to Voodoo	Read Replies (1) \| Respond to of 57584

Hi Mark - All the significant local COMP support levels are broken now, and we have two closes below the 300 day ema. These two closes also confirm a possible head and shoulders back through August and, as of today, a double top going back through June. Measure rules would suggest a bottom around 3K, give or take 150 points. 3K also happens to be where the NAZ trendline from last year currently projects, and of course the May bottom is around there. So that's my target for somewhere between tomorrow and the end of October (unless the Fed starts pumping up money supply, which seems unlikely at this juncture). We'll see...

To: Mark Konrad who wrote (37290)	10/5/2000 2:21:38 AM
From: Rande Is	Read Replies (6) \| Respond to of 57584

My brain keeps saying, "strong non-inflationary economy, stable interest rates, election year, new economy, yada-yada-yada..." But the market emotions are becoming the opposite of irrational exuberance...freight trains DO run in both directions, don't they? And almost all my charts keep showing the same miserable downtrends with support point after support point giving way to lower lows. Well said, Mark. I believe that most here would agree with you. We knew this week would be the indicator that would clue us in to the rest of October. But here it is Thursday, and many of us remain clueless. I would hope by this afternoons close, we should have a better idea as to whether there is follow-through, increasing volume, positive breadth, tech leadership, etc. . . or whether we are just entering the spin cycle of the long summer of 'Wash & Rinse'. Will MU positive earnings get overshadowed by the media coverage of Dell & HLIT warnings? And which button will the manipulators push? The one that opens with a gold key, that says we can move forward? Or the lever which drops the floor out from under us? "Climbing walls". . . increasingly becoming part of the Trader's job description. Rande Is