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To: westpacific who wrote (5697)	3/10/2003 1:05:26 PM
From: Softechie	Respond to of 11447

The market will have to get cut in half before Warren Buffett is interested...SP500 with 30 P/E is just way too much optimism in bear market...

To: westpacific who wrote (5697)	3/10/2003 1:07:20 PM
From: Softechie	Respond to of 11447

US won't attack until March 21st IMO...Da Boys are squeezing Da Bulls balls now...

To: westpacific who wrote (5697)	3/10/2003 1:32:30 PM
From: Softechie	Respond to of 11447

CHARTING MONEY: Unhappy Anniversary For Stocks 10 Mar 12:01 By Stephen Cox, CMT A Dow Jones Newswires Column NEW YORK (Dow Jones)--A lot of folks have noticed that Monday is the third birthday of the death of the latest - some would say "greatest" - bull market of U.S. stocks. Exactly three years ago, on March 10, 2000, the Nasdaq Composite topped out at 5132.52. That beginning of the current long-term bear market happened well before 9/11 and any serious American consciousness of al Qaeda, and before popular inkling of a possible war with Iraq. Evidently one has to be careful when attributing current stock market weakness to those influences, although they certainly didn't help prices. Don't forget that the downtrend since March 2000 is itself a fact of stock market life. Obviously, stocks will be going down as long as the downtrend is effective, regardless of what you read in the papers. I've estimated that the Nasdaq downtrend will bottom between 900 and 854 by late April. If I'm wrong the index will trade more or less sideways through mid-July. In any case, Friday's Nasdaq close below 1317.78 was definitely bearish. But for now don't discount the prospect of a stock market bounce. That's because the Nasdaq is close to 1278.35 support and the Dow Jones Industrial Average is close to support at 7579.70. Those numbers touched off rallies on Friday. The pause of the Monday-morning selloff, just above those supports, increases the chance for a bounce. USD Wants To Play, Too The prospect of a brief stock market bounce is mirrored by a like possibility for the dollar, which is otherwise weak in the long term. Now that USD is below Y116.93, it's pointed down to Y115.78. And when the lower number is tested the dollar could easily bounce up to Y116.40 before the next wave of selling takes it lower. Watch for the euro to pull back against the dollar when it tests $1.1150-area resistance. A euro dip would test $1.1029. Treasury Futures Breakout Still On Hold Generally steady technical momentum indicators are still saying that the time isn't right for a technical breakout of the CBOT June 10-year note. But the chart patterns of those indicators so far are shaping up as bullish, and so a decisive close above 116-12 is likely to happen soon. The yield signal of a breakout will be a drop of the U.S. 10-year yield below 3.559%. For more technical analysis see: Dow Jones Newswires, N/DJTA; Telerate, page 4073; Bloomberg, NI DJTA; and Reuters key word search "Charting Markets." -By Stephen Cox, Dow Jones Newswires; 201-938-2064; stephen.cox@dowjones.com (Stephen Cox, a chartered market technician, is chief technician for Dow Jones Newswires.) (Data by CSI, Commodity Research Bureau) (END) Dow Jones Newswires 03-10-03 1201ET