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Politics : High Tolerance Plasticity

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To: chowder who wrote (11427)	1/4/2002 4:39:39 PM
From: MetalTrader	Read Replies (1) of 23153

Interesting day..(aren't they all)...had the look of a lot of short covering. The way the patterns have been broadening lately, I have to think break out buys at resistance are more likely covering. Lot's of cross currents here, so I took the chicken way out and wrote a lot of covered calls slightly out of the money on big techs when the S&P got to December highs. It's easier to be bullish individual stocks than the averages right now...In other words, leaping in now looks a bit delusional. One I am pondering for your consideration is PCS. It was very beaten up today. Right on the bottom of a tight consolidation but stochastics a bit high for me yet. I THINK there may be a money flow issue as institutions raise funds to buy secondary AWE which I believe is coming to market next week. (again, not certain so check) PCS has been a good trader, so you might watch for an opportunity here. I've found bad news or rumor has been oversold on several occasions. MT

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