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Strategies & Market Trends : The New Economy and its Winners
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To: techanalyst1 who wrote (16603)4/10/2003 3:27:06 AM
From: fedhead   of 57684
 
Take a look at the charts from March 2000 and tell me
again what the primary trend is. Both the Dow and the
S&P are below the 200 day MA. Untill they can better
that and hold the 200 day the trend is down. As for the
NASDAQ its above the 200 but I am willing to bet it won't stay there for long. As for shorts how about the SPY and QQQ at today's close with a closing stop at 28 and 93.
The function of bear market rallies is to convince the
majority that we are in a bull market and this rally has
done its job admirably.

Anindo
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