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To: marginmike who wrote (51448)8/28/2002 10:11:23 AM
From: AllansAlias  Read Replies (1) | Respond to of 209892
 
Price is already just into the ramp day that turned all this around. Unless one went long that afternoon, or before of course, then one is now back to flat or under.

The end of that ramp day, where we are now, should get defended. We may eventually go to 1300, but the risk is that the big ramp stick is nothing but air. I would prefer a bounce from right here for a while.



To: marginmike who wrote (51448)8/28/2002 10:17:01 AM
From: AllansAlias  Respond to of 209892
 
BTW, the low we just hit on NDX represents the exact equal for this second leg as compared to the first down into Monday's low.

The bear fear is that this is a simple a-b-c correction before a new high. I don't see it goin' down that way, but this is where we would launch the headfake for that read.



To: marginmike who wrote (51448)8/28/2002 12:12:09 PM
From: Softechie  Respond to of 209892
 
Based on TA, Nasdaq will drop right through 1100 and heading to 800 IMO.


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