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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (18346)	6/20/2001 6:58:38 AM
From: Crimson Ghost	Read Replies (2) \| Respond to of 30051

For the first time in many years I am beginning to wonder if a crash might be on the horizon. The market was heavily oversold by most measures just before the 1987 crash.

To: ajtj99 who wrote (18346)	6/20/2001 10:24:55 AM
From: Mike M	Read Replies (1) \| Respond to of 30051

I like your analogy of the spring and think its appropriate. Looks to me like we are short term oversold. If we bounce hard and run up into the close today towards 2100 NAZ and 1240 on the SPX and pop at the opening tomorrow, that would release enough pressure that Thursday could be ripe for bad news, reverse, and close weak. That might then be the catalyst for a sell off (1800's) into Monday. This would likely set the stage for a very positive reaction Tuesday particularly if the FED decides to go with a 50 basis point easing which I consider possible. Then again, we could just roll over here and go down.