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To: James Strauss who wrote (9396)	8/16/2001 11:51:23 AM
From: James Strauss	Respond to of 13094

Nasdaq... What's Next??? ********************************** The 1875 area is very critical support... stockcharts.com[m,a]daclyymy[pc13!d20,2!i!a1875][vc60][iLc20!La12,26,9!Lw25!Lk14!Lf!Ld20!Lg!Lp14,3,3] There are little areas of support on the way to 1750 where there are a series of gaps creating a reverse Island Reversal... After that, it's the April lows... Will the FED's 1/4 point cut help... Maybe temporarily... The market needs to get some old time capitulation... So... We either see the bottom at 1750 or the old April low... That should do it for this BEAR... Jim

To: James Strauss who wrote (9396)	8/16/2001 11:51:35 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 13094

Jim, not real bloody yet, no real pain that I can see, just drift-less action until Greenspan speaks his piece next week, which no one will understand anyway. I feel the FED has screwed up on a massive scale, just a few years ago the FED & IMF pumped close to $200 billion into the Long Term Capital debacle & the Russian, Thailand, etc. currency problems. Then pumped in more for the Y2k non-event..Alan & co's magic wand is getting pretty short. In grade school I was taught that one of the differences between communism & capitalism is the communist system will not allow failure. Think about that?? Where oh where did all that paper creation go? I think we will find out, as they create more. Keep an eye on OLN, DOW, DD & GLK for signs of real rebound. It has to start with the basics.