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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (37425)	5/31/2001 10:17:28 PM
From: Dealer	Read Replies (1) \| Respond to of 65232

NASDAQ Composite and OEX (S&P 100) by Ed Downs The NASDAQ has the "kiss of death" written all over it. We have a long lower trendline which has been broken, and a consolidation beneath it. We need to break 2,140 tomorrow to keep this thing from going into a deep retracement back to absolute lows. The OEX is also through an important line - down. ** In Summary: Not too much excitement today, in the medium term. We are still short from 11,000 and watching to see if the decline is going to accelerate. I am suggesting staying away from the Long side until 10,975 is crossed, and then holding stops at 10,900. Most likely, we will rally some tomorrow, and then turn down for the next leg of the retracement. Our cover stop will be held firm at our short entry point of 11,000. Thanks for listening, and good luck in your trading! Ed Downs edowns@nirvsys.com