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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (37584)	3/28/2001 2:19:46 PM
From: James Strauss	Respond to of 50167

I somewhat agree...but we have yet to see the capitulation stage. I'm looking for an 8B share day on the NAZ-Duck before I'll say a bottom is close or in. That stage could take us down in a major way, maybe even 50% lower on the QQQ near the 20 level and 25% lower on the SPX. Fred: The fact that everyone, including me, is waiting for the capitulation stage, it may not come... We've already had 1 1/2 points of rate cuts against last year's 1 3/4 points of rate hikes... We have a tax cut looming on the horizon... I think that most of the bad news is already priced into the market... We'll know for sure, if the 1150 to 1080 area on the SPX holds, and the 1800 area on the Nasdaq holds... If we get another hair raising bounce from those levels after all this bad news, there is a good probability that we at least know where the bottom is... Jim