Sharck Soup Message Board

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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	3/22/2001 2:25:27 PM
From: velociraptor_	of 37746

Intraday action is forming a rising parallel channl just like it did yesterday after the FED news drop. Deja vu... Pattern looks like it will complete by the close today or in the morning. I will be picking up those Puts again probably before the end of the day for the last wave down (wave 5) of the larger series which started right after the FED news. It looks like wave 5's have been extending so it's possible that this one will too. The first two down waves have been averaging about 450-500 points apiece. I suspect that wave 5 down will be at least that, so if it starst around 9200 on the DOW, we have a target of about 8700 to complete the whole series. Then we bounce for 3-4 days and start Wave 5 down of the next larger wave set. "It ain't over yet"

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