MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: HairBall who wrote (53958)	6/13/2000 9:46:00 PM
From: American Spirit	Read Replies (1) of 99985

I travel/work a lot in Europe and the dollar is very strong over there. What's this about a weak dollar? You get almost a pound for your dollar now and in Holland 2.45 guilders. Six months ago it was 2.1 guilders. I don't know a thing about TA except when I look at a chart I can see apparent levels of support, price targets, etc. When I compare that to earnings projections and the like I arrive at a conclusion. Nothing scientific about it. Wish I was a TA wiz but then again it's not a perfect science. Nothing is or else we'd all be doing it and we'd be RICH. Still I'm sure it has great value in timing the market which is really what this game is all about. I just look for oversold conditions in certain stocks and I saw a lot of them this morning. A lot. Down to old support levels which didn't reflect current trends. Behind the times. Inefficient. Could be wrong but I'm pretty sure we're moving up. Of course these days a rally can last oen day, but strong ones can move you up 4-5% on your portfolio in a session. Since my target's only 10% higher from here that's when I'll start profit-taking. Hey these days you gotta grab those 10% moves. Or else just hold longterm. Retailers are ones I'd hold until 4th quarter. They're dirt cheap here.

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