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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Box-By-The-Riviera™ who wrote (110730)	6/29/2001 9:44:53 AM
From: ild	Read Replies (1) of 436258

The Meehan Notes Shedding the Short-Term Bearish Outlook By Bill Meehan Special to TheStreet.com 6/29/01 8:31 AM ET URL: thestreet.com I'm forced to shed the short-term ursine outlook. It's not a matter of preference, but as I mentioned Wednesday, my indicators would flash a buy signal on any decent upside move. So, the market's fade after Microsoft (MSFT:Nasdaq) reopened was nothing more than traders reacting to their exit strategies. Are we off to the races? I don't think so, but heading to the upper end of the trading range is certainly doable. The game plan is now to buy dips rather than to sell into rallies. Suffice it to say that I was right that a 25 basis-point rate cut was the best the bulls could hope for. I was wrong about further downside at this point. However, I maintain that we'll be in a trading range until the fourth quarter, so investors should continue to sit chilly.

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