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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.88

-0.3%

Jan 30 4:00 PM EST

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To: Johnny Canuck who wrote (33007)	6/22/2001 1:46:31 PM
From: j g cordes	Read Replies (1) of 70282

We are and will be in the land of bounces for a while. The fundamentals haven't changed to support long runs to the upside, but prices.. especially in techs, are so depressed it doesn't take much to spark a rally. Look at NUFO today, only a nod from an analyst that its fair price might be higher and its off to the races... probably won't hold today's highs. Trading these bounces is tricky.. if the average run is 20% then one way to play them is to look at where the current inspiration recently botttomed, then look to get out before its 20% above that. Getting out is the key, as there will be plenty of opportunities to pick up 10% here and there before the long term trend changes where long postions for investment are the better choice. Jim

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