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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: sylvester80 who wrote (54946)	4/23/2002 12:50:49 PM
From: MechanicalMethod	Read Replies (2) \| Respond to of 99280

Markets go where they're going to go regardless of fundamentals.

To: sylvester80 who wrote (54946)	4/23/2002 12:54:13 PM
From: oldirtybastard	Respond to of 99280

and what will the reason be 30 minutes from now? Maybe the reason is that there won't be an economic recovery, you know, that big basket that everyone has already put their chips in. -g- like greespan says, we'll know in hindsight

To: sylvester80 who wrote (54946)	4/23/2002 12:56:49 PM
From: Softechie	Read Replies (1) \| Respond to of 99280

I've heard Arafat is buying SAN equips for his operation. Have anyone heard this too?

To: sylvester80 who wrote (54946)	4/23/2002 3:19:04 PM
From: Shealtiel	Respond to of 99280

It's apparent now it wasn't the explosion at Arafat's HQ that caused the lunchtime swoon. That was reported at 11:55 AM. At 12:17, MSFT crossed the LOD, which happened to coincide with the early April lows (support). Technical selling (and possibly program trading) took it down 3/4 to about 54. INTC followed, which pulled down AMAT. CSCO was looking for an excuse to test its late Feb lows and followed suit. As these four comprise 21% of the $COMP, it fell. The DJIA and $SPX, with less exposure to MSFT, have remained relatively unchanged. (The TIKQ has been strongly negative all day, but the TICK has been positive.) AMAT has since recovered, and INTC is trying to recover; but MSFT and CSCO haven't. If MSFT can't rally into the close and settle near 55, it will set a new low not seen since October on a close-only basis. The $COMP can't get any traction here With its major component setting new lows.