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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.41

+0.5%

Feb 2 4:00 PM EST

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To: Lee Lichterman III who wrote (24471)	9/2/1999 12:27:00 AM
From: donald sew	Read Replies (2) of 99985

Lee, Although the overall short-term technicals are still low(lower midrange) for the DOW and SPX, I would be very cautious going long. The NAZ is in the upper mid-range. Conventionally it is early to get puts, but I also started another hedge position to the downside with a mutual fund play, and if the market continues up I will add on. The 3-CROWs is a significant reversal signal, and if the news is negative even slightly, the negativity could be strong. Basicly, my short-term technicals are close to the mid-range so its in the flip-of-the-coin territory, and the news should set the direction. I do need to stress that currently the bias is to the downside. I still have the next short-term top near SEPT 13. seeya

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