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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.47

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To: Clint E. who wrote (27611)	8/16/2000 3:47:10 AM
From: Johnny Canuck	Read Replies (1) of 68386

Hi Clint, >>I am getting this hunch that the selloff in the last few >>days would prove to have been a bear trap and a good-size >>rally would be under way in the next couple of weeks, >>taking the nasdaq to 4200-4300. >> >>The market has been so contrarian so I am thinking we may >>have a rally instead of selloff, as everybody expecting >>in the next couple of months. I am just catching up on the news now. Though there might be a rally starting just before the Fed meeting. I don't think the real rally starts till the professional traders come back at the beginning in September with the real money being put to work in the middle of September. Let's see what CPI bring tomorrow. I had a great time in New York. The heat wave actually broke for a few days while I was there. I just missed seeing the closing bell in the New York Stock exchange by a few minutes. It was interesting to see all the media on the stock exchange floor.

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