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

To: Crimson Ghost who wrote (88673)6/30/2002 6:25:35 PM
From: ajtj99  Respond to of 99280
 
I agree, George. I believe it is quite possible the losses in the Dow over the next 9-months will be equal to that of the COMP, especially if the COMP finds support at the 975-1000 level while the Dow bottoms around 6400.

As for folks selling now, it is not such a terrible idea to hold tech now if the bottom is indeed 1000 COMP. The bounce off the bottom should be pretty robust, while getting back in the market will be hard for most people after these years of decline.

If the COMP does have a panic low, I believe we could hit the 800 level. However, I would put that in the low end of the probability scale right now, especially considering the possible Spring 2003 time for that low to happen (we usually don't have panics in the Spring).



To: Crimson Ghost who wrote (88673)6/30/2002 6:38:50 PM
From: Mike M  Respond to of 99280
 
In my assumption that there are at least two legs left, I doubt that the Dow leads the next leg down...I would give the S&P first shot at leading. Perhaps the Dow will lead the final plunge in 2003.


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