MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 691.88

-0.3%

Jan 30 4:00 PM EST

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To: HairBall who wrote (17771)	6/18/1999 8:15:00 AM
From: Casaubon	Read Replies (1) of 99985

It looks like the market is going to continue higher. I don't consider this strength. Rather the market has not lost enough momentum to fall down yet. I will be using the ensuing rally to look for opportunties to purchase puts. One of the reasons I am fairly convinced the market will continue to trend higher is that IBM put in a fairly uncommon continuation pattern called upgap side-by-side white lines. If IBM closes higher than the close yesterday, I believe one last run at the highs will occur. iqc.com

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