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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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To: Les H who wrote (22631)	8/10/1999 6:34:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

exactly - 150 points is nothing considering the levels we're at. people tend to forget that, after all 150 points was quite a big deal only a few years back. a string of heavy down days with average losses of 500 points or more and volume increasing to 2,5 - 3 bn. shares at the NYSE on the climax day could be considered capitulation. so far there has been NO selling, only a lack of buying, so the sellers haven't been flushed out yet. they're all waiting for a bounce to sell into... hb

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