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As a newcomer, I am enjoying your insight.
With a less technical view simply for the lack of time, I wanted to
propose a low of around 800 on the OEX for next week. Sure 69 points
may be a lot, but what is holding this market up. The dollar is scaring
a lot of traders and let's face it -- there may be little or no
inflation but there is also very little growth in this economy.
Certainly, the growth in this economy is not what stocks have been
presenting for the last two years.
An interesting note: This week's Fortune mag. had a good interview with
the former Fed Chair Paul Volcker. He comments something to the effect
of "you young people think that you deserve a 15% return on your stock
market every year -- you have another thing coming". He backs that with
many comments including the highest personal bankruptcy rate in history.
Comments? OEX = 800 ---> INDU = 7150
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