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Strategies & Market Trends : Sharck Soup

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To: American Spirit who wrote (18324)	4/25/2001 12:11:20 AM
From: Ron Dior	Read Replies (1) of 37746

I was noticing how much this recent run up has mimicked the last rate cut in Jan 2001. Look at this chart: charts3.barchart.com and notice how on Jan 3 the market rallied almost 300 points and then several days later it fell back to it's original level (this is where we are today on this recent rally). The arrogance of the bears back on Jan 3, 2001 when the market fell back only 2 days later, caused a massive short covering that took the Naz. up another 550 points. I am not saying the same thing will happen this time around, but the feel out there is very similar. Short interest has skyrocketed and the arrogance is starting to heat up. Just some thoughts to chew on.... Ron Dior

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