Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (54054)	10/11/2001 5:19:28 PM
From: Jacob Snyder	Respond to of 70976

OT re Nas 2000. I would say it is very, very likely. The chart doesn't get much clearer than this: siliconinvestor.com and siliconinvestor.com The closing low for the Nas last April was 1643. On 9/17, we gapped down through that level. On 10/4, we retested that number, exactly, from below, and backed off. Today, we gapped back up through 1643. I suppose there is a chance we gap back down tomorrow, and that level becomes resistance. And that could be Elvis ringing my doorbell. More likely, 1643 becomes support, and strong support at that. Which means we have a firm floor and no overhead resistance, till 2000. The herd will stampede at least that far. I'm very surprised it's happening this quickly.