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

To: Logain Ablar who wrote (8867)	12/11/2000 4:30:26 PM
From: Jdaasoc	Read Replies (1) \| Respond to of 30051

Tim: I think the 1415 this week is asking a lot but with a change in market sentiment its doable. I am going to go under the assumption that tax loss selling went overboard over last 4 weeks and just reestablishment of like positions and mild new buying will get us in low 1400's either right before or after DEC options settlement date of the 15th. If Greenspan holds bias tightening on 19th we go back down; if he goes neutral we hold our level; if he changes bias to loosening we get your 1500. It was the afternoon of the NOV FED meeting that all shit broke loose from 1385 taking 3 weeks to get back there again. Can you honestly tell me that most people aren't going by the seat of their pants in terms of where they think the market is going. IMO not fighting the FED is half the battle. john