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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

+1.0%

Nov 21 4:00 PM EST

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To: t2 who wrote (76800)	5/10/2001 7:29:06 PM
From: Uncle Frank	Read Replies (2) of 99985

>> There is no other way to explain the selloff today. I think it was "sell the news" activity related to the modest Euro rate cut. At any rate, it wasn't much of a selloff with the nasdaq only dipping 28 and then bouncing back in the after hours market. I was able to buy back my May expiry covered calls for pennies on the dollar today, and if the rally materializes next week, will simply write June expiry calls on the spike. uf

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