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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 684.39

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Dec 4 4:00 PM EST

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To: donald sew who wrote (16050)	6/4/1999 7:56:00 PM
From: bearshark	of 99985

Don: I just started looking at things. I have the IIX and DOT in bear markets. I also have AOL and AMZN in bear markets with CMGI trying to decide. For me to consider the downturn in these issues a dip, they must move up and show that the down-trend really has changed. That will take a great deal. Bobby is right about these things. They are very similar to the OSX in November 1997. Unless they can turn around, I think they can lose a total of 75 to 80 percent from their highs. This sounds absurd to me but they must prove it wrong. At this point, it looks to me that the first three days of next week will be very important for the general market. By no later than Wednesday, the INDU will face a key test and I think it will fail. That should give it the opportunity to visit 9900. So I think our thoughts will be consistent. However, because there are several others here saying very similar things, I will be on the lookout for something completely different.

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