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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: stockman_scott who wrote (37840)	6/14/2001 11:06:05 AM
From: r.edwards	of 65232

""One observation of technical interest yesterday was the action of the major averages versus the A-D line. For instance at 11:00 a.m. with the DJIA up 26, there were 615 net advancing issues. Even at the close, the A-D line was net negative by only 42 issues. A surprisingly good relationship like this existed throughout the session. Conclusion: We have mixed signals between the DJIA & SPX, which are recording a short-term pattern of lower tops & lower lows – the definition of a downtrend versus an A-D line that refuses to “crack”, accompanied by relatively good P-C readings. The former implies that until the pattern is broken, near-erm caution is warranted. The latter implies that further pullbacks ought not be too severe. On a trading basis, the environment is still very difficult, & we hope you now understand why we put the caveat out that we did yesterday. Regardless, BRCD acted well until the NASDAQ declined. Another example for the discipline of stop loss points. Art Huprich, CMT Technical Analyst"" I need to throw a couple of ringers, short or long , got any ideas other than borl ???

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