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Strategies & Market Trends : MDA - Market Direction Analysis

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To: KymarFye who wrote (71786)	3/12/2001 8:26:27 AM
From: Stephen M. DeMoss	Read Replies (1) of 99985

Kymar, Thanks for your notes! Chkp is very close to a breakdown. If it breaks below 63.5, the next real support is the 53 level. If it can move up and close above 68.5, then it has little resistance to 72 and than nothing to 80. I am always a bit anxious while holding a short as the losses are unlimited. I had Sebl short at 77, got stopped out at 77.5 and watched it drop to 27. Frustrating. Having said the above, I frankly 'feel' much more secure being short this market versus long. Why? The selling has been without mercy on the way down in many quality names. Chkp has not suffered close to the extent as the others. If the trend continues, no way chkp holds up. Thanks again for both your inputs! Steve D.

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