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

To: m1o2n3i4c5k6 who wrote (18347)	6/19/2001 9:47:59 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 30051

Sometimes these things do get compressed, particularly when catalysts are present (like ORCL compressing the launch back to 2057). We made a new low (on this retreat) today, so the trend remains down for the time being. In general I see continuation of the decline, and as I said last week it was supposed to accelerate from tomorrow on. Well it started accelerating this afternoon. I would not be surprised if the compression brings us faster to the 1850 than I thought. If that happens, then the 21st/early 22nd might indeed be a local low (around 1850), and we may launch from there into a mild recovery of from one to three weeks (post the July fourth), but that should not get us much higher than today's highs, IMTO. Then we go into the summer doldrums, and possibly challenge the years low. Sorry, but right now, this is one possibility and I cannot be more exact (we turn up Thursday at 10:30) (g). Zeev