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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: GROUND ZERO™ who wrote (20962)	7/23/1999 4:12:00 PM
From: Lee Lichterman III	Read Replies (2) of 99985

Yeah, I was too scared to go long here. There is a chance of a short term bounce but today just had too many head fakes for me to bite on the mini rallies. I have a few things pointing up short term but I had a lot of my signals negated today and we put in a lower low so I sat on my hands and will just try to play the next down leg or sort all this out over the weekend. It looked like they made a mild rally into the close then 15 seconds after they rang teh bell, they dumped everything they bought to run it up. Call me a panzy but I just couldn't get myself to hold a long over the weekend. If they gap it up on Monday, then they fooled me but at least I won't lose anything. I really expected a better rally today off the low but out of all 3 of my possible plays, only one would have made me money and the risk to reward was not favorable. TRIN didn't dip below 9 the last hour and TICK only went positive for a few seconds. The TRIN's trend was up all day so any rally attempt was met with selling except for a few index heavy weight issues to dress things up. Good Luck on your short plays, Lee

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