MDA - Market Direction Analysis Message Board

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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 675.24

-1.2%

Nov 4 4:00 PM EST

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To: t2 who wrote (76868)	5/11/2001 2:27:06 PM
From: American Spirit	Read Replies (2) of 99985

The last two days dips in techs provide an opportunity to go long here for 3 days. Shorts I'm watching have started covering ahead of the weekend. Expect more by EOD. Shorts realize there's nothing to be gained by holding through the Fed meeting. Betting on a .25 cut instead of .50 is very risky. I believe the .50 cut will be the case. Oil stocks down today which makes the DOW look worse than it is (insofar as techs are concerned). Also INTC and IBM remain at bottom of the day. When you see INTC and IBM turn back up we'll be on our way. Already the little guys are upticking. That's where you can get the bang for your buck and traders know it.

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