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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 674.96

+0.9%

4:00 PM EST

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To: Suresh who wrote (27017)	6/14/2000 4:01:00 PM
From: Johnny Canuck	Read Replies (1) of 68284

Suresh, The sector is showing light profit taking today, but with options expiration on Friday I would expect that as people square their positions. MRVC is still showing strength. As a laggard of the group, as long as the momentum is still with the stock the intermediate trend should be up. I expect re-tracement that can be played on the short side that you can benefit from though. The psychology is slowly repairing itself. If we get by the Fed, earnings should get us moving again for a few weeks. It sure has been an amazing market. Are you still in FDRY? Nice double !!!

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