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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (9961)	1/30/2002 5:42:57 AM
From: Steve Lee	Respond to of 19219

"If I understand you correctly, sounds like we are on the same page and are expecting for a low in February/March for 2002? How low you expecting we go SPX COMP?" I would think in Feb/March we will get to a point somewhere between where we are now and the Sep lows. Based on fundamentals, we can be expected to break the Sep low at some point in the future but fundamentals often take years to work out and there could be economic recovery before the lows get a chance to break. Sep was an extremely oversold condition so I certainly would not expect us to just go thru the lows, it has to take several attempts over a long period with bounces in between. However, I don't concern myself with that, it is too difficult to predict. I find it more effective to just look at whatever the current indicators are saying, take a position with a reasonable chance of being profitable in the next few weeks, and stay flexible. Regards, Steve.