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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (1765)	4/3/2001 9:08:45 AM
From: Cush	Respond to of 5144

Hey Shack. Everything is relative, isn't it. Going down another 15% doesn't sound that scary (I'm sure most longs in this market would accept another 15% in a heartbeat) after we've seen some stocks lose 90 and 95% of their value. With the Nasdaq down 65% from its high, 15% more to establish a bottom would be acceptable. If only we knew there was a bottom there. That one year, daily on the SOX does indeed look bad. MACD appears to be starting a new leg down. On the three year, weekly- it sure shows the support at $500. and then $400. if $500. doesn't hold. Again the MACD appears to be turning down. On the banks, the BKX has a lot nicer looking chart, for anyone long. I like your analysis. Stochastic getting into overbought. We are likely going to turn back down shortly to alleviate the overbought condition. The question is does that key 750 support hold? Thanks. I always learn from your posts. Cush