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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.52

-0.3%

Jan 7 4:00 PM EST

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To: eichler who wrote (80527)	7/19/2001 8:36:57 PM
From: Greg Jung	Read Replies (1) of 99985

<For me, it's a chart thing....direction, support, resistance,> While I enjoy your charts immensely I must comment that your interpretations are biased to when the next rally will come. Ways to go up: MMs cleverly raise prices 5% every week while offering occasional "crash and burn sales" to deflect attention ... Ways to go down: The high valuations of stocks driving the comp, the low probability of good news regarding these stocks, the fully-invested positions of mutual funds, the slowing of stock fund inflow, etc. And the complacent attitudes of amateur traders buying the dips for a one-day flips --- and the historical propensity for tech stocks to get really devastated ... Considering all the sub-sectors of the comp, each of them are populated with companies that starve on a lack of growth: semi-equips, semis, telecom equips, ... all making stuff for a future which is beyond the horizon without a road to get there.

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