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Zeev Hed

01/07/05 5:40 PM

#342986 RE: eap #342968

Not changed. Early in December I expected a swoon to the 2040-50 to occur before Christmas it seems to be materializing now (and since we got higher than I expected prior to that, the depth of the swoon may not be that deep). The MSFT bolus of liquidity must have delayed that denouement. From that level I still expect another run to 2275 or so.