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Strategies & Market Trends : Sharck Soup

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To: mayner who wrote (23300)	5/16/2001 7:52:08 PM
From: pressboxjr	Read Replies (1) of 37746

mayner, I saw somebody post today that it was done by the institutions to get the guys that bought puts yesterday. Not to sound like CNBC too much, but hey, one guy got it right.........a lot of short covering when the Dow broke thru key resistance at 11,000. I suspect those guys will be back when the time is ripe. IMO, that should be about 11,420 on Dow and 2250-2300 on Nas. I will say this though, the Dow looks like a better short than the Nas at this point short term. I will be watching the 2250 area closely, because if the Nas can break thru that, there is a gap to be filled in the 2500-2550 area. Good luck to all

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