Re: [RT] The Reason for Nasdaq's Temporary Bounce

[STUART AUSLANkkk <u.stuart-auslander@xxxxxxx>]

I dont doubt your negative analysis on the Naz.  The key fact to me is
the amazing internal strength building in the DOW.  I read at least 15
DOW stocks in uptrends.  This includes cyclicals which if we are going
into recession should be plunging.
Stuart

James Taylor wrote:

> The reason that the Nasdaq market has gone up the last three days is
> due to technicals, surely not fundamentals, as the market has bounced
> off of a trendline going back to 1995.  How far can this pup
> potentially bounce before it resumes its rightful descent to earth ?
> It is likely that the Nasdaq will plunge again to retest the
> trendline.  If the trendline holds, which I would bet it will, given
> the fact that Easy Al Greenspan will likely cut rates by another 1/4
> point at the end of the month, and spew more hot air on how he will be
> ready to cut again if the market heads lower (ps.  Easy Al, the market
> is bigger than you are, you just don't know it yet.) Potential heights
> for the Nasdaq before the next leg down:3257   =50% retracement3494
> =62% retracement
>
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