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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (3611)	5/25/2001 4:22:24 PM
From: john722	Read Replies (1) of 209892

Allan. Last Memorial Day Tuesday After We had a huge gap up and if you look at April 17th on the Naz, we just finished the identical wave 4 pattern. There too was a nice gap up. Seems too easy, so I went 50% long today. We are due for a decline next week (being the 8th week from the 4/4 low (also identical pattern from Wave 1 to 2 on the weekly (May 24th 00 low to July 17th 00 top). Combined with the low vix reading, I'd say the decline is sooner rather than later (you may be right though, it might have begun already). I can just see some positive talk over the holiday to lure in some buyers early Tuesday (Israel could blow up (no pun intended) this scenario). Have a Happy Holiday Weekend.........

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