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Strategies & Market Trends : Paint The Table
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To: MulhollandDrive who wrote (17818)3/6/2002 1:05:10 PM
From: Jorj X Mckie  Read Replies (2) of 23786
 
Yup, everybody knows that the big rally is coming, everyone can see that inverse H&S on the weekly comp and ndx. Everybody now knows that there was no recession and if there was, it is now over.

A week ago, the charts looked to be going down. The direction was clear. But, the market action changed that and now we have a breakout from the down channel. Those bearish signals were wrong. Things look the most bearish on the bottom and the most bullish at the top.

So, if the recession is over, should we expect the layoffs to stop now? How about missed earnings?

I am would bet that we are going to have a couple more high profile layoff announcements in the next 30 days. I bet that the earnings warnings start coming in within the next two weeks.
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