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Strategies & Market Trends : MDA - Market Direction Analysis

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Jan 8 4:00 PM EST

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To: pater tenebrarum who wrote (46348)	4/15/2000 3:08:00 AM
From: Michael Watkins	Read Replies (1) of 99985

Heinz, I've not really been hiding, but been lurking about with not much to say for the last week or so... two Fridays ago I announced I was selling off into that day's rally if memory serves... which I did. Quite happy with the results ;) Re your comments, despite the tape it didn't feel like a bottom, as I mentioned to American Spirit, I tried to buy it all day long LOL! Its my guess that many professionals themselves were astounded by the action - disbelief - the folks that I trade with all had a sense that this could be "it" but true to form, all day long we looked for the diabolical (a quick bottom) and prepared for it just in case. And it never showed... So perhaps some will get even more agressively short and we'll see some type of short term capitulation bottom, but its my guess that the first sign of any rally weakening will be met with tremendous evacuation, so - yeah - your thoughts on waves up/down jive with one scenario I see playing out.

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