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In a message dated 4/13/00 4:51:34 AM Pacific Daylight Time,
eadamy@xxxxxxxxxx writes:
Best guess is that we'll get a modest rally and then continue the
decline with ND leading the way. Since ND 3191 is another 10% south, the
scene could get ugly with panic taking ND to the next (and most likely)
price target at 2457. Bottom line, unless we get an overwhelming
reversal in NASDAQ breadth, any rally here (3948 or 4014) is likely to
provide a shorting opportunity.
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Thank you Earl for posting your thoughts. While I tend to agree with
you here,...particularly that NASDAQ breadth may in fact be the deciding
indication as to whether we are starting an advance,..or resuming the decline,
...I personally am bothered by the fact that longer term (40 wk) cycle
suggests a LOW for secondary (NASDAQ) type issues next week,...during
the week of 04-17 to 04-21. The week of 04-17 to 04-21 is 40 weeks from
the 07-16-99 high, a significant time from an intermediate to longer term
perspective. Other (separate) methods point to this timeframe as being of
longer term significance. Also interesting that short term,... 04-18 is a
Full
Moon. Prior to your post,..I had been open minded to the week upcoming
marking an important interm to longer term turning point. My bias was to
look for a move UP from this timeframe,..with small caps and NASDAQ in
the lead as those stocks most affected by 40 week cycle. However, your
bias seems to be that any rally from these levels is a selling opportunity and
that we might see much lower on NASDAQ. So that is important for me to keep
in mind. I really respect your work, and would like to ask you to keep
sharing your near term thoughts during this seemingly important week
upcoming.
Thanks again most sincerely. Jim Pilliod jpilleafe@xxxxxxx
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