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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.03

-0.1%

Dec 9 4:00 PM EST

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To: r.edwards who wrote (71109)	3/3/2001 4:47:04 PM
From: bobby beara	Read Replies (3) of 99985

nasdaq broke support (jan 2 low) on a possible bubble head and shoulders top, on extreme tick and trin readings, bounced up on angel (devil -g-) rate cut hype, and turned support into resistance, would have been bullish to climb back above the jan 2 level and turn it back support. stockcharts.com[l,a]dbclyimy[df][pa2250!a2900!b50!f][vc60][iUb14] during the blow-off phase the sentiment was so bullish that there were rate hikes that the market rallied on, it's possible during the capitulation phase the market may sell-off on a rate cut, bear trend has nice leadership with csco and orcl making fresh 52 week lows on friday and nasdaq new 52 week lows back to expanding. stockcharts.com there should be a tremendous buying opportunity in techs coming up, but just as in the blow-off phase, stocks doubled and tripled within days or weeks going into the final stage, stocks can lose 20-50% or more in days or weeks, i'd rather buy at way below wholesale -lol-

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