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Strategies & Market Trends : Roger's 1997 Short Picks -- Ignore unavailable to you. Want to Upgrade?

To: Jon Tara who wrote (6139)10/27/1997 5:22:00 PM
From: Alec Epting  Respond to of 9285
 
Looks like fairly strong support on the NAZ at 1400. I hope we don't get there, but if that doesn't hold, it's definitely a bear market.



To: Jon Tara who wrote (6139)10/27/1997 5:33:00 PM
From: Roger A. Babb  Respond to of 9285
 
Jon, my gut feel is that 6500 is the breaking point. I see three possible paths from here, all with equal probability:

1. Bull market dip to 7000 and promptly back to new highs.

2. Short term retreat to 6500, trade in 6500-7500 range for three to six months, then bull market returns to new highs.

3. Drive right through 6500 into prolonged bear market and deflation period. I think it takes another external event to trigger this.

My vote is for #2.


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