123 Trends and Reversals Message Board

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Strategies & Market Trends : 123 Trends and Reversals

QQQ 629.07

+0.5%

Oct 31 5:00 PM EST

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To: Ally who started this subject	1/31/2001 9:33:50 AM
From: Ally	of 147

Difficult day to trade today just before an FOMC decision. Looks like the market consensus is 1/2 point, however, 3/4 is possible given the poor GDP number this morning. My guess is Greenie would do 1/2 today and another 1/2 before the next Fed meeting. I sense the stock market is struggling between a weakening economy (avoid stocks) and a loosening monetary policy (buy stocks). If the rate cuts turn out too late to fend off a recession, it would be bad for the market as a whole and especially high multiple stocks in the next few months. On the other hand, this gives investors an opportunity to buy some great companies such as TXN and GE presently on sale. RIMM - Gapping up... market makers taking out the weaker holders. GX - Holy grail candidate.. however, low volume is a concern. TXN - "Buy on dip" bet. GAC/TSE - Holy grail candidate. AOL - Will it ever retrace?

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