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Pastimes : Home on the range where the buffalo roam
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To: Boplicity who wrote (3287)8/12/2001 11:50:53 PM
From: chojiro  Read Replies (1) of 13815
 
You can look at as if the wedge is reaching point in space where the sellers are just exhausted and gone, with strong holders left.

From my view, that is what i have been seeing lately. perhaps just isolated phonomons, but in those cases, the sellers just stop selling, and the buyers bid things up.

I also will comment that since the majority of my money is on the short side, I am paying close attention to the charts. The last couple(2) days tell me that everyone wants to hold that 1950 spot on the comp. they keep buying it back to it. If that holds and longs come into rally it in a big way shorts could ge in for a good squeeze. However, if it fails and the hope of regaining it looks bleak, than shorts well pile on even harder.

Again, JMO, hope I'm not out of line posting here.
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