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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 689.10

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Jan 23 4:00 PM EST

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To: bobby beara who wrote (39277)	2/5/2000 4:38:00 PM
From: donald sew	Read Replies (2) of 99985

Bobby, >>>> the xci, nwx and sox are all at new highs, as yet we haven't seen a reversal, but i believe it could come at anytime, i would be hesitant to bet too much on the short side until some kind of reversal stick is in place. <<<< I agree with that philosophy, but why short the HiTECHs until there is a topping pattern. Per the INDEX UPDATE I am more focused on the weakness in the DOW, since that has the pennant that should resolve in a few days. From a standpoint of playing option puts, I realise that much talk is concentrated on shorting the HiTECHs. Why not play PUTS on the DOW which has the weakness right now. Keep in mind that PUTS on DOW STOCKs are sometimes alot cheaper than HiTECH PUTS. Yes the NAZ stocks can drop alot more but since the PUTS on DOW stocks could be cheaper, it may average out. seeya

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