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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 687.72

+0.7%

Jan 5 4:00 PM EST

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To: HairBall who started this subject	1/10/2001 4:09:25 PM
From: KymarFye	of 99985

Gotta like THAT on the Comp from the long side: Made a new high for the day and closed right near it, cleared resistance (for, what, the third or fourth time?) above 2500/2508 (top o' the post-FOMC gap), maintained nascent uptrend from 1/08 low. YHOO and MOT make me uneasy about holding overnight on part-positions, but two successive days the Comp has rallied despite lousy news/big hits on (former?) bellwethers... The Chambers Sneeze landed right on my risk tolerance on one trade that would have been just fine, but also gave an opp. to enter new positions elsewhere. Don't expect it right away, don't (can't) believe danger is passed, but possibility of challenging Greenspan-high and completion of very sexy bottom pattern in sight.

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