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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (3888)	1/15/2005 3:53:13 AM
From: Walkingshadow	Read Replies (2) of 8752

HA !!! That is a great chart. Puts in one picture what I have been saying: we are on the verge of a short-term uptrend that will not last long (because of the volume-heavy black "power candle"---600 million shares). Then, a medium term downtrend (correction phase), probably down to the lower rail of that regression channel, possibly lower. Then, resumption of the overall long-term uptrend. 139.142.147.218 This all equates to choppy waters. Prudent traders will be content to take smaller profits now, and lean towards the short side increasingly. This medium term correction could last months. It would be wise to remember that long positions in downtrending stocks during a medium or long term downtrend is a fool's game because of the increasing volatilities, and that these are the kinds of markets where professionals make much of their profits---on the short side. T

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