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Should read "not allowed to collapse"
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Earl Adamy
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, February 15, 2001 5:52
PM
Subject: Re: [RT] Re: EWT thoughts
I believe this is an important point...the Fed
has made it very clear that it will do whatever is necessary to see that the
bubble is now allowed to collapse. Does this mean that stocks won't go down?
No, in fact I expect new lows in the NASDAQ and quite probably the SP500. But
it does mean that the easy money has probably been made on the short side, at
least until there is some real fear on the part of the public and fund
managers. Given the extent of the bullish sentiment and a market which
has hardly fully deflated, I expect things are going to remain very volatile
accompanied by constant sector rotation.
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