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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Arik T.G. who wrote (24982)	1/7/2003 3:20:27 PM
From: Arik T.G.	Read Replies (1) \| Respond to of 36161

BTW, another skull on my belt: Message 18295422 >> To:isopatch who wrote (22601) From: Arik T.G. Tuesday, Dec 3, 2002 11:57 AM View Replies (4) \| Respond to of 24985 Hi NASDAQ Looks like the entire move from the October low has topped with the exhaustion move yesterday morning. Important 1487 resistance (38.1% fib to the entire move from Jan 2001) held, with the index trying to break it for three days in a row but always closed below that number. Said move from the low could be the entire correction, but more likely is only the 1st leg out of two legs up. Timing is a bit off here, seasonality would suggest the high for the correction should arrive in January, and if we start moving down for two weeks from here this leaves only one month for the second leg up, which is marginally enough (fib 61.8% from the 1st leg). So road map from here: Two weeks down to 1345 area (1st support) or lower, then next leg up to mid\end Jan, then a new bear leg down. ST trend - down IT trend - up LT trend - down >> 1) Dec 2nd WAS a IT top 2) Naz did go to 1346, held a few days and bottomed at 1327 3) We are now at 1437 so a buy at 1345 wasn't bad at all Edit: Random walk my a*s ATG