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Strategies & Market Trends : Classic TA Workplace

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To: JRI who wrote (1824)	5/4/2001 9:01:48 AM
From: AllansAlias	Read Replies (1) of 209892

Yes, I am pondering the extremely negative response to the ugly employment report. We'll have to see how far this gets, but our Wildly Bullish alternative is taking it in the **** just now. Our Bullish scenario, the one I still favour at this point, calls for a deep correction, since it presumes we are correcting the entire run from Apr 4, so it's still very much alive. Our Very Bearish alternative calls for new lows. We are a long way from that moving up to favoured status. [Yes, even bears are thinking the pullback some were forecasting (that we appear now to be getting) is a headfake and buying op'ty. This has me on guard, but like I said, I'll be watching sentiment closely to see if the nefarious alternative seems possible.] I really did not foresee a really poor open. Futures were lock-limit down last time I checked, so you'd have to say at this point that we are setting up for it. Don't know what my strategy will be at this point. I was so hoping for a bounce to get short.

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