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Strategies & Market Trends : Classic TA Workplace

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To: UnBelievable who wrote (10757)	8/22/2001 8:57:08 PM
From: AllansAlias	Read Replies (1) of 209892

Regarding my intermediate-term plan to establish a long position under the big wedge, I just thought I would mention that I have not done it. The only part of the plan that came together was, finally, price breaking down out of the big wedge. I also need to see gnashing of teeth (i.e., high worry) and that I do not see. Although unscientific, I sense that investors/traders are more worried about missing the "coming rally" that they are about possibly lower prices. If COMPX pushes through 1960, then I'll rethink my stance. The other factor that could force my hand is seeing the commercials doing some noteworthy short covering. For now, I am flat in my Rydex account and will be trading the wiggles with futures until we get either the teeth gnashing to the downside or a bold move to the upside.

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