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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: eichler who wrote (79505)	7/5/2001 6:20:23 PM
From: t2	Read Replies (1) of 99985

eichler, Congrats on your recent bearish call. To me tomorrow's trading is going to be the key on the Nasdaq. Big warnings tonight and the market's reaction reaction to them. A part of me says that we rally on these profit warnings tomorrow given the several days of down moves. Short interest in stocks like EMC are still high and we could see some short covering kick in as well on a day like tomorrow. If we don't rally tomorrow, that would be bad news and we could be heading below 2000. Had not expected it before but now it seems that we could be facing a Nasdaq below 2000 again. Market seems to have no momentum upward at all. We shall see if it has downward momentum tomorrow. To me, Intel's trading tomorrow is absolutely critical after the AMD profit warning. If INTC reverses tonight's losses and closes flat to higher tomorrow, that would be very very bullish and I will see no need to change my outlook. Otherwise...

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