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

To: Zeev Hed who wrote (8329)	11/29/2000 5:37:29 PM
From: Jdaasoc	Respond to of 30051

Zeev: If the latter, then even 2500 will not hold. You will soon find that all the NDX stocks will be at 52 W lows so tax loss selling will continue unabated. The question is who wants to be the last one out of the NDX. You tell me what top 15 NDX stock is not going to close in next 2 weeks at 52 W low like DELL. SUNW is about 10 pts above 52 W low, INTC JDSU YHOO and NXTL 2 pts; CSCO & ORCL 5 pts; WCOM and ERICY 1 pt. MSFT, NTAP VRTS well above 52 W lows but latter two are volatile puppies. For all you IP fans ARM holdings @ 15 well below yesterday's 52 W low. I don't know what is keeping RMBS near 40. The market makers will be able to set whatever price they want for these sales. Greenspan or election offers no solace for next 2-3 weeks so it will be ulgy. There is no Japanese, Koreans, or anyone else to blame for the reversal in NDX but ourselves. I think 1900-2000 is possible support level john

To: Zeev Hed who wrote (8329)	11/29/2000 5:39:46 PM
From: Logain Ablar	Read Replies (2) \| Respond to of 30051

Zeev: We'll we break 2,630 tomorrow and then we have 2,230 area on the naz. Scary part is money is rotating to defensive stocks and financials. With a hard landing these will roll over. Just a matter of time. Also remember TA support and resistances don't hold in bear markets. With the collateral damage in the NAZ the FED already has its slowdown. The scary part is the last 500 basis points are just now impacting the economy (Happy Holidays AG). We'll I've been wrong since mid Oct with my pics except for some gas & transports (non tech). They won't be safe but should hold up till Feb / March. RMBS has an investor conference call tomorrow afternoon to discuss business outlook and its litigation. Should be worth a bounce but I'm not sure if I'll play it. If we get past 1200 on the tic or $32 I buy some. Notice two of our favorites today QLGC and EMLX. QLGC didn't bounce as hard but that is probably due to BRCD's earnings today. Not sure of the bottom in these two but when the market rallies these two should be good for 30% (and if you can get them on the v spike, your speciality not mine, it can be 50%). Best. Tim