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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (19046)	6/27/2001 9:44:05 PM
From: Kailash	Read Replies (1) of 30051

The short-term trend is still down, but this is most clear in the INDU --- see securitytrader.com If the Dow keeps falling, can the Nasdaq be far behind? Given the Nasdaq's last eight days of tense confinement within a narrow and nearly flat band, we might expect an explosive move one way or the other in the next couple of days. Judging from the direction of the Dow, that whiplash would be down. I don't see any fundamental events that would trigger a sharp move to the upside, though Arik, GZ, and Donald Sew are all sounding more bullish after today's action. Perhaps GZ will finally get his moonshot? <g> To me this looks like an opportunity for a very risky but potentially rapidly rewarding short, an elaborate setup. The wisest stance might be that eloquently advocated by Larry "the sound of one hand clapping" Dudash: he is the wisest person on the board since he knows that he does not know what will happen tomorrow. <g> Kailash

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