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Politics : Idea Of The Day

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To: SpecialK who wrote (33949)	10/2/2000 11:56:36 AM
From: PMG	Read Replies (1) of 50167

<< 3615 is critical to hold today. If we close above 3679 today, this market will have successfully tested the low 3600s twice, then we go higher to test 3800. >> re. COMP: I don't see that we will go much higher until we close above 3762-3778. This level would break the short term down trend. 3656-3658 is strong support on closing basis. Was already tested today and will probably hold if we don't go lower than 3626 - 3614 intraday. If this breaks next support is 3521. If COMP stabilizes on this level and moves up slowly this could be a consolidation which would explain low VIX. If VIX increases and the sharp up/down thing continues I would rather think that we will break to the downside. So if we get a sharp rally after the FED meeting I would short it, if nothing much happens I would look for bargains... PMG:)

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