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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: JRI who wrote (5584)4/11/2001 9:46:32 AM
From: Paul Shread  Read Replies (1) of 52237
 
Not a very impressive start in the INDU and SPX, given where the futures were trading. INDU can't stay above 10,150, which is just the first of a few potential lower diamond boundaries, the highest of which is at about 10,600. 10,000 was psychological; 10,150 is where the real resistance begins.

I wouldn't ignore Joseph's call, but Bank of America caling a bottom in CapEx spending? Puhleeze! When the mass of analysts start calling a bottom, I keep one hand on my wallet. This rally is all tech today; not likely to last if the Dow can't catch up.

That said, I've got a few longs, so I'm not exactly going to cry if this keeps going for a while. ;-)
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