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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST

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To: pater tenebrarum who wrote (28732)10/8/1999 8:04:00 AM
From: Matthew L. Jones  Read Replies (1) of 99985
 
Heinz,

Funny you should mention this...

Last night, right before the close (last 2-3 minutes) I was watching my AOL position which was trading at 123 and some change. I blinked and it was trading at 118! Now this is not ONSL! This is AOL! I looked over at my CNBC screen and Maria was doing her closing market thing (and she stands by the post of AOL). She said there was a big commotion at the AOL post.

Apparently, there was a LARGE market sell order of AOL (enough to drop the price $5 in 10 seconds) which indicates to me at least one institution taking profits prior to today's employment numbers. As you know, AOL often leads the sector.

I, personally, am staying long AOL but you might well be sensing a good short term topping.

Matt
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