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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Joe Smith who wrote (51471)	5/13/2001 7:14:25 AM
From: DlphcOracl	Read Replies (1) \| Respond to of 57584

Joe Smith: You have indeed framed the most important and most difficult question: what level will the next bottom be at. FWIW, my opinion is that the March low on the Dow and the April 4 low on the NASDAQ have now defined the lows -- I do not see the Dow or NASDAQ exceeding these lows. I think you are correct -- I'm betting that the NASDAQ will form a higher low around 1800 and will not retrace 100% down to the 1600-1650 range. I will be dollar-cost-averaging into tech at 1800; if it goes lower, I'll buy more. I will be overweight tech throughout the summer. I think the individual and institutional investors still have not been cured of their tech stock bias and see the NASDAQ making one last run up to 2600-2800 between now and November. Another reason for overweighting tech -- it will be oversold and will have a much higher bounce than the non-tech stocks, which really didn't correct all that much.