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I'm looking for a decline into late December, however the depth is another
matter. On a valuation basis, I have to go with targets at or below 600.
However, I believe that policy intervention has been used very successfully
to keep the markets from reaching their targets pre-election. Given the
recent statements from the Fed regarding their intention to keep consumer
spending afloat by driving down longer term rates and improve corporate
profits by turning up inflation, I wonder just how realistic it is to look
for such low numbers.
Earl
----- Original Message -----
From: "ira" <mr.ira@xxxxxxxxxxxxx>
To: "REAL TRADERS" <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, December 05, 2002 9:07 AM
Subject: [RT] SPX
This has been a good 200 point rally, but it has to break 970 in order to
void the current down move. The rally came off of 765 support as it should.
The target is still 565, unless 970 can be hit. If 765 doesn't hold on this
trip down look for support in the area of 670. Good trading, Ira
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