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

To: semi2000 who wrote (11021)	2/9/2001 8:47:17 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 30051

Thank you, semi. I only expect a relief rally here, first we are quite oversold after losing more than 17% on the Naz in a straight line, and in a short period, second, for a variety of technical reasons, I do not expect the real bottom to be occurring until later this month or even early March (unless, of course AG gives us another surprise rate cut), so this rally, IMHO, will be followed by an equal or even worst decline (if we get to my target of 2650 on the rally, then think we will make only a marginal new bottom just under 2250 or another swing of 400 Naz points). Until that decline starts to evolve, I really cannot say how bad it is going to be (and I have one very bad scenario at 1900, but luckily, it has low likelihood, for now). So, if you go in next week, make sure you are nimble and get out at any sign of troubles. Stocks which I think should do well are QCOM (target a possible $87), QLTI a possible $37/$39, AMAT and NVLS both with a possible target of $48, and VECO which could go again to the $53/$55 area. Of course, the various stocks I got in today (except SCMR and JNPR which are still "dangerous") have good bouncing potential. This is just one man's opinion, ands I have been known to err before, so please, don't go "overboard" and solicit other members of the thread for their weighed opinions. I hope that helps. Zeev