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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.00

+0.2%

Nov 11 4:00 PM EST

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To: HairBall who started this subject	2/8/2001 2:02:16 AM
From: Psycho-Social	Read Replies (1) of 99985

Getting ready to run again.... Last Thurs night (Post 68296), I concluded that a short term pullback was beginning. Now, with the Nasdaq down 10% from its best intraday level in late January, and the S&P down 3% or so, my short-term sentiment indicators are giving readings consistent with the end of a short-term decline. The overwhelmingly negative tone re Cisco & related companies, and rash of earnings and investment downgrades on Cisco creates an opportunity to reenter the Market at these lower levels. Went from 20% to 60% invested at Wed close. A new upleg in the Market's intermediate term advance should begin within the next few days. I intend to be on board.

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