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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Chris who wrote (7896)4/27/1998 1:13:00 AM
From: Robert Graham   of 42787
 
The term "correction" is a relative term I suppose. The last market correction that we had around November of last year was in the bigger scheme of things not a major market correction. I personally think a drop to the 50 day MA would still be considered an "adjustment" and not a "correction" which has a more negative connotation to it. We are just so used to above 20 day MA performance that anything below it looks like a big step down. When we can start tracking market progress by 9 day MAs, then this market cycle must of been very strong. The power of liquidity. But then a drop to the 50 day MA may not be palatable to many out there that are geared up for a very strong market. Still, I see the market sentiment as being generally positive to being positively "exuberant" as far as the short term public speculators are concerned. Boy, I love that word, "exuberant".

Bob Graham
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