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Strategies & Market Trends : Sharck Soup
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To: besttrader who wrote (30291)7/9/2001 12:22:10 AM
From: Sharck   of 37746
 
Thanks knight, no mkt updates though I would like to say there is much negative talk around the net this weekend to see a gap down in AM trading. Eyes on earnings and company guidance will set the tone for the next 2 weeks. Historically, August is the worst month of the year for techs. If traders stay away and volumes remain weak and we break the psycological 2000 mark for more then 2 consecutive days, (we will drop below 2000 tomorrow), then we set ourselves up for a test to 1850, my first bear target. I do not at this time see a drop below that, AND feel the 1850 is dependent upon other factors, (most importantly, economic data coming from US trading partners, Europe and Asia). The set up would give us a rally towards the end of August.
Nite knight
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