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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Les H who wrote (71305)	3/5/2001 8:52:03 PM
From: Chuck Williams	Read Replies (3) \| Respond to of 99985

Friends: I'm questioning a significant drop in the next week. The ninth is Friday (zeev's magic date +/-2), three trading days away, and I really don't see how we can drop to sub-2000. It's become apparent that earnings downgrades won't cause it; the atrocious consumer confidence figure didn't; don't know what else is going to affect the market. Even if it does go down, there isn't enough bad news (short of war or some other external force) to generate the capitulation everyone is looking for. Not to mention that it's only a handful of trading days until the next FOMC meeting where we'll get our next rate cut. Can't overlook the possibility that they'll lower early, either. So, as I'm digesting and synthesizing the wisdom of those on this board (zeev, bb, tim, les, haim, and countless others) and seeing how the market is reacting to bad news, I just don't see us breaching 2000 in the next two weeks. Maybe I'm crazy? Chuck