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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 671.91

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Nov 14 4:00 PM EST

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To: waverider who wrote (75050)	4/16/2001 9:37:58 PM
From: American Spirit	Read Replies (2) of 99985

Would you be leading your division in retreat now? Not me. Buy the dips (especially the second day of a two day dip because I don't think we'll see three) and ride the general gradual wave upward. Techs down more than 80% but now the worst is behind us. We should see a nice 20-25% or so rise from here into mid May. After that I may go defensive. Am actually part defensive now already and pick only what I consider the most undervalued techs. Betcha shorts have less than 24 hours to cover then back up we go again. The shorts are simply fueling the gradual rally now, providing nice pops to higher highs as we go. I don't expect any new lows in major techs from now. Even bad news CSCO should weather the storm and move back up in a few days. And some of the biggest dogs should out-perform the way they did in January. The sign are already there and the moves have already begun. Don't fight the new trend higher.

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