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Strategies & Market Trends : MDA - Market Direction Analysis

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To: LTK007 who wrote (64825)	12/20/2000 10:39:39 PM
From: John Madarasz	Read Replies (2) of 99985

Max...look at the last two bottom reversal sticks on the VIX Specifically from 10/15/99 and 4/14/00... Very similar in formation to the latest weekly here, though a little longer. All long open bodies with equal short shadows stockcharts.com[L,A]WACLYNMY[DE][PD20,2][ILI14,3!UA8,17,9!UB14!LH14,3] I'm not so sure we need a spike, and I'm also not sure today was the turnaround day.<g> but I won't be surprised to see a rally for the next couple days. When the VIX is high...it's time to buy<gg> even if only for a trade with tight stops. It will be interesting to see if this afternoons warnings will get bought tomorrow... Regards, John M. edit: one last thought...Christmas might come early if shorts decide to cover headed into the holiday, if I was holding shorts or puts after this latest spectacular fall, I wouldn't hesitate to be locking in profits if a major down doesn't materialize tomorrow morn...

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