Post by bargainseekeron Mar 13, 2001 9:26am
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Post# 3464151
tosday outlook
tosday outlookStocks are indicating higher this morning this morning
after yesterday's massive drop. However, don't be
drawn in by the futures. Any strength in the market is
expected to be used by investors as an opportunity to
take some money off the table at higher prices. To that
end, once the selling starts to best case scenario would
be another strong whoosh down to shake out the
remaining bulls and end this decline once and for all.
V-bottoms typically aren't made on Mondays. However,
Tuesdays are fair game and yesterday's sharp decline
hopefully induced the degree of panic necessary to
bring about a capitulation sell-off. The faster it happens
the less painful it will be. If the market does somehow
manage to hold up today, it most likely means that we
are going to have to continue this slow sell-off until the
NASDAQ hits 1500, which was the starting point for the
rally in 1998.