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

To: Zeev Hed who wrote (71969)	3/12/2001 10:52:49 PM
From: Mike M	Read Replies (1) \| Respond to of 99985

Well, I am on record that we won't see a new low on the NAZ this year and, if we do, I hope you forget who made this prediction... I do think that we could see new lows next year after the NAZ completes a 5 leg rally.

To: Zeev Hed who wrote (71969)	3/12/2001 11:12:59 PM
From: bobby beara	Read Replies (3) \| Respond to of 99985

and I agree that the DOW at least still has some additional deflation in front of it after the next rally.>>>> Zeev, nas is extreme beta to the dow, now in the past we could count on sector rotation, can we count on that NOW? or if the dow goes down, will the nas being it's big beta brotha just go down more. At the march top we saw some INCREDIBLE divergence between speculative high risk, and value stocks. how about CMGI selling at zillion times sales and philip morris yielding 10%, jc penney yielding 7%, etc. Now we may be going back to the Graham-Dodd thang, where real business valuation counts and those new valuation metrics are in the past. if this is the case the nas p/e compression has much more to go, i think it will, but the exact map is uncertain. b