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

To: LTK007 who wrote (29410)	10/3/2001 11:47:21 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 30051

Actually, there is already significant deterioration in the technicals (thus my short term bearish stance and relatively high cash position). The equity P/C ratio finished the day at .46, that was a very rapid decline from well above 1 when I put on my bull horns. More interestingly, already 82% of all the NDX 100 have gone above their respective 10 days moving average, too one sided. Luckily, the number of issues above their 200 days MA is still very bullish at 7% only. Thus I think that my model has a good chance of coming through, backing and filling here to the low 1500 before we resume our climb into late November to above 1700. The next few weeks will probably be best used, again , to trade rather then buy and hope for the best. Zeev