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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 695.59

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Jan 27 4:00 PM EST

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To: t2 who wrote (79216)	6/25/2001 11:36:36 PM
From: Boplicity	Read Replies (1) of 99985

NV, You optimists you. <g> Take note that many stocks have started their lateral movement or base building period higher then the April low while others, such as NTAP, are making what appears to be W bottoms. I take what's happening now as a market coming terms with the extension of the recovery into next year. All of which is working together to prevent testing of the April low. Of course all the above will change if during earning season the tone is moved to back to no visibility or it's getting worse and companies report that they have no idea when it will get better, which Zeev appears to be looking for. Further more I would like nothing more then the FED to mention that they are seeing signs of recovery with one more .25 reduction and a move to neutral. In reality though, as I have mentions before with my put up or shut comment, it's come down to earnings now. Reducing rates is not going to hold the market together anymore. The real risk I see in the market is not this summer of boredom of selling into rallies and buying bottoms that are short lived, but a fall into winter of discontent. B

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