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Strategies & Market Trends : Classic TA Workplace

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To: marginmike who wrote (21581)	11/19/2001 12:23:28 PM
From: JRI	Read Replies (1) of 209892

<The tape> How has the tape indicated anything but a top as of late? Most of the gains from COMP 1940 last week has been gaps...I'd have to go back and look, but something like 80-85%...why can't this market rally intra-day.. We had this same thing happen in February....one week (COMP was in the 2200s)...we gapped something up (and nicely) something like 4-5 straight days, but net/net did nothing....after that string, there was collapse.. I'm not predicting collapse here, but I'd say the tape has to start showing something to encourage my bullish side...(look at all the individual charts turning too...high/lows...stocks that couldn't make it back to their previous highs from 2 weeks ago...similar to that spike in May).. Just looking for a correction man, and early week makes more sense than end of week...if we rally all week, a good bit (but not all) of my dry powder will be put to use by Friday, that's for sure...

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