To: SirRealist who wrote (30854 ) 1/30/2001 10:04:56 PM From: Bryan Read Replies (3) | Respond to Well, you know me. When I get pessimistic, it ain't for peanuts. closing basis. It's quite possible that we will retest the 2290-2300 area but that would be fine as long as it ended up confirming a strong level of support. My fear is that people will buy the whole way down and ultimately end up puking their long positions, and consequently create the wave of selling that will yield a break of the year-to-date low, and subsequent test of longer term support at 1890-1900. members.aol.com global recession . The Nasdaq tanked nearly 20% after the first rate cut, but then rallied back hard, never to look back. The capitulation that took place in the broad sell-off helped to fuel the rally that did not die until March 2000. second rate cut this time?? Well the media would sure love that as that's all they have been harping on.....Recession, YES! should be their damn slogan on CNBC.now . Anyone with cash on the sidelines is accumulating now . Easy money policy and tax cuts will make the pool of available funds for investment larger in the coming Q's.rallies are made of.
