To: Freedom Fighter who wrote (85946 ) 11/27/2000 7:16:17 PM From: TRINDY Read Replies (1) | Respond to Wayne, Thanks for asking. I wish I had an answer as to what such a negative reading for the Nasdaq means in relation to the next two months. I was surprised to see it that low, -23.9% relative to the 200 day exponential moving average. I am equally surprised that we didn't get the Xmas rally, as yet. Mike was thinking the Xmas lies would carry the day for a while. I'm not so sure any more. There seems to be a little reality slipping into this market after repeated blows to the head. Finally I see newletter writers like Dohmen, who has been consistently bullish, turning very sour on the market. I think we will look upon the years 1998-2000 historically as a market mania, with stock prices rising to unsupportable heights. I still think we are highly overvalued, which I think is your opinion, too. The year-over-year comparisons will remain tough for some time and we are only a week or so away from earnings preannouncements. I simply don't see impulses that will move this market higher. On top of earnings problems, the economy seems to be slipping fast. Every day we seem to take a new promising technology sector down. I see a lot of reasons to be on the sidelines.
