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Strategies & Market Trends : Sharck Soup
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To: Patzack who wrote (8372)1/26/2001 12:21:46 PM
From: velociraptor_   of 37746
 
No guarantees on a short in PMCS at 70. However, today's action is considered a reverse power spike. Power spike's tend to define the near term direction which is down now, so the bias is to continue down once the secondary reaction up trend today is done. I do not know how much further up it will go...very likely that gap won't be filled until a later date as 56 is more probably than filling the gap.

I won't be shorting here though as this is not a low risk trade in the charts. I like to work off of trendlines and there are none anywhere around here.
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