|
PureBytes Links
Trading Reference Links
|
I wouldn't bet on it.
----- Original Message -----
From: "DB" <dbisnath@xxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, July 28, 2000 11:59 AM
Subject: [RT] Re: MKT: NDX / PEP
> Big negative ticks ( -900 and under) earlier today;at the low a few
minutes
> ago the ticks were -800.
> Selling pressure has abated, I predict a resumption (could be explosive)
of
> the summer rally until next mid-week. DOW to 11,000; SPU0 to 1550; NASDAQ
> COMP to 4400.
>
> -----Original Message-----
> From: JW <JW@xxxxxxxxxxxx>
> To: realtraders@xxxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxxx>
> Date: Friday, July 28, 2000 2:28 PM
> Subject: [RT] RE: RE: Re: MKT: NDX / PEP
>
>
> >Another opinion - this excerpt from today's TheStreet.com midday update
> >email:
> >
> >By Aaron L. Task
> >Senior Writer
> >7/27/00 8:49 PM ET
> >
> >SAN FRANCISCO -- When Richard Williams, market analyst at Jefferies,
> >came out bearish on the Nasdaq Composite July 19, the call proved to be
> >a day early but not a dollar short. In fact, being short woulda' been
> >the right move.
> >
> >Thursday morning, Williams emailed with the observation that "the
> >Nasdaq appears to be approaching a short-term bottom," in the 3820 to
> >3840 range. That call looked eerily spot-on as the day unfurled -- the
> >index tumbled as low as 3841.62 before closing off 3.7% at 3842.25.
> >
> >In the wake of the decline, the analyst forecast the index could begin
> >a rebound as early as Friday, ultimately rising to as high as 4050 in
> >the next few trading days. But he also believes traders would be best
> >served to use that presumptive advance to "lighten up" or establish
> >shorts. It will prove to be "a temporary respite before further
> >downside," he said.
> >
> >Williams reiterated his call for weakness over the next four to eight
> >weeks, one that takes the Comp as low as 3335, or down another 13% from
> >Thursday's close. He sees a similar, although less bearish, pattern for
> >the S&P 500, suggesting the index will also rally from Thursday's close
> >of 1449.62 but soon test support around 1400.
> >
> >Looking out a bit further, the analyst forecast the market will enjoy a
> >"Fed-induced" rally beginning in late August and continuing through the
> >election in November, but will suffer another "big correction" shortly
> >thereafter.
> >
> >Elsewhere, Williams sees the Philadelphia Oil Service Index as having
> >run into resistance at around 115 and recommends shorting the index
> >with a 120 stop and 92 target.
> >
> >As always, you're free to follow, ignore or bet against the sources
> >mentioned in this column (at your own risk, of course). Just wanted to
> >pass along the latest from a guy who seems to have the "hot hand" these
> >days.
> >
> >---
> >JW
> >
> >-----Original Message-----
> >>I would be a buyer at today's low
> >>qqq should visit intra day hi of 96-98 in 2-4 buss days
> >>THEN short to 80
> >
> >Thanks Ben... almost every technical analyst is looking for the same 2-4
> day
> >rally. Cause for concern as far as I am concerned. I am more interested
in
> >seeing how far down they can take CSCO INTC SUNW.
> >
> ><snip>
> >
> >Gitanshu
> >DISC: Long PEP Neutral INTC.
> >
>
>
>
|