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Post# of 704019
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Zeev Hed

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Zeev Hed

Re: mish post# 87333

Saturday, 03/15/2003 9:22:22 AM

Saturday, March 15, 2003 9:22:22 AM

Post# of 704019
I think that the Naz may seem to be stronger than the Dow this year, mostly because in the last three years it was so weak and the Dow is simply partially catching up. I am now of the opinion that we have indeed finished the first phase of this Nassacre last Wednesday and most of the interim counter move is about over. That will call for a slight modification of the next down target on the Naz from 1080 (see #msg-708849) to 1111, since the bottom of the first leg was some 30 Naz points above the original (1/25 expectation), and the bottom in the Dow is adjusted 100 points down to 6800 (from the nominal 6900 in that 1/25 forecast. I don't expect this run to go much higher, maybe a run above 1353 all the way to 1365/70 or so to once more "prove" a breakout on the Naz to suck in more money from the public. This run should be over before mid day on Wednesday, all, of course, IMTO.

Zeev

AZH

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