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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 672.07

-1.7%

Nov 13 4:00 PM EST

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To: Les H who wrote (30287)	10/17/1999 6:46:00 PM
From: Benkea	Read Replies (1) of 99985

Les: "It's usually not a good sign for the very short term when the averages close outside the lower trading bands as the Dow and SPX did on Friday." It isn't a good sign for the short term when the averages have done all the things they have done recently <g>. You're gonna love this: We are either REAL near a bottom or we are going to tank hard! I know this sounds like fence sitting, but there is a rationale if you can believe it. I posted a couple of weeks ago that most of the stocks I watch (the non-glamour ones - the ones it takes a brain to invest in) have suffered sell-offs in terms of volume, intensity, etc not seen in AT LEAST 3, 4 or more years. In other words, this IS different than the 1997 and 1998 dips. How different, I don't know. These stocks are more oversold than they have been in YEARS. This is why I think it is near a) over or b) OVER!.

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