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Strategies & Market Trends : Classic TA Workplace

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To: bcrafty who wrote (38441)	5/8/2002 2:50:35 PM
From: The Freep	Read Replies (1) of 209892

bcrafty. . . <<but with GE the bond and debt issues are still weighing heavily on investors minds>> Sez who? Lotta impressive moves over resistance today, even if it's only "short covering." I also notice perusing SI that many bears are still in the "scalp short for profits mode" trying to catch intraday lulls even though this day is overwhelmingly bullish. In the past, this has been a good indicator that the trend has changed for up, but that there will be just enough down over the next couple days to keep the bears interested enough for one more squeeze/push. But that's just an anecdotal observation, so treat it as such. I wonder how the day will end -- with short covering, or traders taking their 10-25% one day profits? the freep

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