LastShadow's Position Trading Message Board

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Strategies & Market Trends : LastShadow's Position Trading

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To: ynot who wrote (20192)	8/19/1999 8:09:00 AM
From: Jeff Jordan	Read Replies (1) of 43080

ATHM ynot, The stock isn't in a downdraft yet. A 15min. chart is only good for intraday moves. There are many reasons for the stock to break resistance and continue to move higher here. Stochastics and MACD Nothing moves in a straight line. I myself sold some shares yesterday morning 41 5/8. So I'm hoping for it to retrace a bit to 38-39 so I can reload. However, the day before I was looking for 37. I see no reason for it to drop much further but would buy heavy should that happen this time. Watch the volume and RSI for a downturn past these short term levels. I am expecting a pretty good retreat in the market over the next few days as cautious and scared investors go to the sidelines until the Fed's rate hike is behind us. I have no doubt there will be an increase. I'm looking for SPX 1328 possibly SPX 1318-1312 There are quit a few stocks that have made recent gains that I expect to give back some of those rapid gains. And yes the Dollar is weakening... beta.iqc.com Watch list....I've been too tired to do a full search the past few days...or just haven't allocated enough time for my homework... USIX MCOM MKTW VNWK

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