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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 679.70

+0.7%

Nov 26 4:00 PM EST

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To: sean sanders who wrote (83040)	4/10/2002 12:34:06 PM
From: HairBall	Read Replies (2) of 99985

sean sanders: Since we were discussing entries for WCOM...I took an initial long position in WCOM at 4.46 today. All my intraday models are in the oversold range but one and its close. In addition, my daily model is in the oversold range as well. This was the line up in early February, however I am expecting the multiple bottom that gave way yesterday to provide resistance to any rally. So, any upside may be limited at least initially. My intraday data service is showing the current P/E at 9.5. Of course, there is still a mountain of debt. WCOM still has an unfilled gap-down above 8... Then of course, there could always be more down...<g> EDIT: I will be trading this initial position as an intraday trade, until it gets some profit pad under it... Regards, LG

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