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S&P 500
5,464.62
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-0.16%
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US TECH 100
19,220.00
(
-0.20%
)
Dow Jones
39,150.33
(
0.04%
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Brent Oil
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0.00%
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Post# of 173787
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researcher59

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researcher59

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Re: None

Tuesday, 01/04/2005 3:21:32 PM

Tuesday, January 04, 2005 3:21:32 PM

Post# of 173787
Cash inflows may cause a nice bounce. This is a bad way to start the year, but money managers may be watching from the sidelines eager to buy the selloff once it has run its course. That's what happened in January 2001. In the first 2 days the Nasdaq sold off over 9% from 2470 to 2251, but the third day it had a huge rally over 2600, and for the month closed at over 2700. I don't think it will be the same this year, but I do believe all the new sidelines cash will cause a nice rally at some point in the coming days or weeks.
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