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

To: t2 who wrote (77544)	5/29/2001 1:58:45 PM
From: el paradisio	Respond to of 99985

Supply is another story...recent IPO's...10 bl, corporate bonds...only WCOM 12 bl. I think, supply is still higher than demand and that's why I don't see too much upside. Short term only, Nasdaq looks good and it may go to 2400- 2500 area. However, around 2260-2320 is a gap, which was the resistance point for the recent rally and at 2400 comes 61.8 fib. At 2500 is another resistance and the middle point between fib 61.8 (2400) and 76.4 (2600) PS, I think, we are reaching a short term bottom now...Nasdaq at 2175-2180. el