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

To: orkrious who wrote (8060)	11/22/2000 12:58:31 AM
From: Zeev Hed	Read Replies (4) \| Respond to of 30051

A tough one. $47.375, was the most recent low and we are bouncing against that level. Even in the late may debacle (down to $41 and change) it did not stay under $48 for more than 3 days. I think that additional weakness here, as the market reacts negatively to the Florida court decision and particularly to Baker's threat to throw the high court decision out with the help of the Florida Republican legislature (reminding us of George Wallace getting the Alabama legislators to throw out the supreme court decision about segregation in the south), a real threat to bring the country into a constitutional crisis, $47 will be breached and the last Maginot line at $41 mai be breached. I'll wait to see some build up of bids in the $41/$42 area before I jump back into SNDK. The Baker posturing makes me very uncomfortable with my 30% cash. I was kjust under 20% sometime during the day, but the failure of the cavalry at 3:30 got me to run for the hills. I fear I did not run far enough. Zeev