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SPECIAL POST GAME JOCK TALK: 01/04/01
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RECORD NASDAQ MOVE UP WITH RECORD VOLUME BACKED UP TECHNICALLY BY:

"BULLISH ENGULFING CANDLESTICK PATTERN" - THE MOST BULLISH OF TECHNICALS THAT EXISTS

BUY BUY BUY: NASDAQ Support is NOW: 2500.00!

Good Evening Stock Fans,

Today, NASDAQ Index recorded what is called a "Bullish Engulfing Candlestick Pattern". This is one of the most powerful and quite rare Bullish technical indicators that exist. In laymans terms it opened lower and ended higher than the range yesterday! This "engulfed" the prior day's trading which is the most bullish pattern there is. Period!

Take a look at the chart on the NASDAQ from today.

This illustrates the NASDAQ's Bullish Engulfing Candlestick Pattern. The red bar is from yesterday. The green bar goes lower than yesterday's red bar then rises beyond yesterday's high. It "engulfs" the prior day trading. This pattern almost always produces huge gains as BEARS lose the control to the BULLS!

Almost every NASDAQ blue chip saw this pattern today. To emphasize this point, remember our call on SWC at 34.50 on 12/22/00?

Look at the SWC chart from 12/22/00 see the red bar, then the green bar that engulfs it? This occurred when SWC traded at 34.50. That's what we saw when we called SWC at 34.50 on 12/22/00. The stock exploded up from that level upwards of 40.00. We use this an example to show you how the NASDAQ could behave!

With that same pattern taking place on nearly the entire NASDAQ index today, it's time to buy! What should now take place is a move back to 2796.00. Then on January 31, 2001, I predict the FED cuts another 0.25% and we have the old slang that has worked in the stock market since 1956 without fail: "2 Couples and a Jump!" Since 1965, 2 rate decreases in succession cause the market to move up more than 30% every time it has happened!

Does the CSCO chart looks exactly the same as the NASDAQ chart? Red bar, then, Green engulfing bar!


Finally, we know where all that cash on the sidelines is going to go!

SJ's NASDAQ January 21 2001 Prediction:

3042.00 The NASDAQ's May 24 2000 low is where I like the index to now go by the end of January 2001. Another .25 rate cut would then sustain it.