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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Vendit™ who wrote (7975)	4/19/2005 11:36:47 AM
From: MJ	Read Replies (1) \| Respond to of 8752

Reid Would be nice to see an early summer rally. August has always been one of the best buying times on the long side or at least short term leading into the fall. mj

To: Vendit™ who wrote (7975)	4/19/2005 4:23:46 PM
From: Walkingshadow	Respond to of 8752

Maybe, but remember we saw a rally from May to Aug 2003, and a V-bottom rally in early Aug 2004 after a spring/early summer correction: 139.142.147.218 So while the summer doldrums are kind of conventional wisdom, it is possible to see variations. I think the $34 level is too low. We might see some sideways- to modestly higher price movement through the summer (depending on what happens with the $SOX), but I think the lower end will be more like $35. There's solid chart support there, and price movement below $35 would violate the long-term trend and imply a change in that trend---highly unlikely, IMHO: 139.142.147.218 T