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

To: Rich1 who wrote (8613)	12/5/2000 10:54:56 PM
From: Mark Johnson	Respond to of 30051

Luv it when you post your cycle guys outlook.......you know you're in Zeevtown pardner.....

To: Rich1 who wrote (8613)	12/5/2000 11:22:14 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

50% retracement will be barely 200 naz points, that is barely a hicup (we did more than that today.), I have a rough estimate of 400 Naz points from the top around here. That can change if the tic becomes more robust, we had a good A/D today and NH/NL on the HYSE was good as well, however, peaks in these series are not very high in a bear market, and we may have already reached that peak here. Let see how the market behave tomorrow, if we have not more than 50 Naz retracement in the first hour or two and buying comes back in (and the puts on the indices does not swallow the calls), this rally may have few more days. Personally, I am not betting on it, but I will do selective buying on any retracement in the morning just to get a little more exposure, in the event we get a topping action rather than a direct swoon down. Zeev Zeev