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To: Road Walker who wrote (128033)2/21/2001 4:54:34 PM
From: tejek  Respond to of 186894
 
Two more trading days this week, unless Papa G steps in I think we are in for more water torture, or at best a small bounce. Nasdaq is back to December 1998 levels.

John,

I think its real important for market psychology for the Naz to hold 2251 and then go back up. Twenty two fifty one is the January, 2001 intraday low....we have already broken the closing low of 2291 for that day which was also the closing low for the year.

By bouncing off 2251, the Naz will have put in a double bottom...a chart formation appropriate for an economy trying to get its bearing. The people with buying power know this and they know others with buying power know this...so I am thinking that the greed factor will come into play tomorrow and they will jump in.

I bought some stuff near the close based on this theory. Should things tank tomorrow, don't expect too many posts from me for a while. ;~))

ted