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

To: Psycho-Social who wrote (83843)	5/20/2003 2:32:26 PM
From: playavermont	Read Replies (1) \| Respond to of 99985

A 50% up move on the NAZ in the next few months? Is this guy kidding?? He will either be a KING or a fool by the end of the year. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ "Tech shares got a cautious endorsement from Merrill Lynch chief technical analyst Dick McCabe, who told clients that the recent rally in tech could be the second part of a three-part recovery from the bubble. If history repeats itself, McCabe said, the Nasdaq could retrace about 30 percent of its initial decline to recover to about 2,250 or 2,300 by the fall. It would then trade sideways for a few years. But interestingly, Merrill isn't suggesting investors follow McCabe's call on the Nasdaq. "We are market-weight tech," said Merrill's technology analyst Steven Milunovich. "We have trouble justifying the kind of move this technical analysis suggests is possible but find it an interesting explanation for a phenomenon that appears to have little fundamental justification."