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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 12 4:00 PM EST

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To: Haim R. Branisteanu who wrote (41738)	2/29/2000 2:01:00 PM
From: Michael Watkins	Read Replies (1) of 99985

Haim I bet IBM is more a proxy for the world now, not just Tech Stocks. I'm already positional short again, fairly small... but today's grinding up action is leading me to believe I will be much bigger short soon... Perhaps will put a buy stop in for PDG above the downbars on the daily, too. Maybe things can hang together another day max I think (at this writing).... EDIT - noted your comments on IBM size vs the rest - supports my thoughts. IBM goes up big when business is big; down when its not. All accounts suggest that the are running their business better than in the past; so, if its going down is it telling us about business in general? Perhaps.

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