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

To: Doug who wrote (71797)	3/11/2001 11:11:29 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 99985

Doug, at the time, (like last April) when I was trying to guestimate how low the Naz would go in a bear market, I selected 1900, since it was the top of the Naz range, just before that big decline in the August /October period, my "reserve" number was 1400, just under the lows set up during that decline (I think it was about 1435 and 1450 roughly for the Aug and Oct. lows respectively. Since I did not think that a 75% correction was in the cards then (and I still do not think it now), I chose the 1900 level, it is quite arbitrary, but markets have a way to revisit old support and resistance levels and reverse them on the way back. Zeev