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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jon Tara who wrote (83421)	9/23/2002 12:57:10 PM
From: marginmike	Respond to of 99985

yes within first 6 months

To: Jon Tara who wrote (83421)	9/23/2002 5:55:19 PM
From: Hawkmoon	Respond to of 99985

So, you think a 10-20% down day can't occur other than at a bubble top? It's certainly possible in a market where so many long-term technical indicators have been violated and support levels almost non-existent. Take the SPX, for example.. It's showing support at around 650-700: bigcharts.marketwatch.com And if MSFT doesn't find support here, it's heading to around $30/share: bigcharts.marketwatch.com And since MSFT is a component in ALL 3 major indices (dow, spx, naz100), it will effectively become the "concrete galoshes" that wind up drowning the overall market by Xmas. And THAT'S going to put quite a hurt on the Nasdaq, which could see it breaking the 1000 level and plunging down to 750 or lower: bigcharts.marketwatch.com Very SCAAAARRRRY Scenario!!! Hawk