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Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling -- Ignore unavailable to you. Want to Upgrade?

To: Tomato who wrote (6804)	11/4/2002 6:16:38 AM
From: Dale Baker	Respond to of 6873

Are you looking for more market calls like this? Maybe I am early, but I truly feel that the NAZ will not see 1200 again for a very long time. 1200 is now huge resistance and I would be very surprised the to see this level breached to the upside. pw1.netcom.com the chart is a week old, but clearly shows the importance of 1200 level which is now history. Also notice from the above chart, the next support level is around 1060 approximately Quick warning: Please remember that the rubber band is stretching in the very short term and will likely stretch some more before snapback. When the market does snapback, it will be vicious as usual. (like last Tuesday) I think a likely scenario is heavy selling early in the week with possible snapback Thursday/Friday to some level close to 1200. The snapback will be just another 1-2 day wonder and selling will resume immediately afterwards. Just make sure you are prepared for the snapback. MS's trading record seems to excel far beyond his market timing in general.