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Strategies & Market Trends : Classic TA Workplace

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To: jjstingray who wrote (41711)	6/12/2002 11:41:53 AM
From: AllansAlias	Read Replies (1) of 209892

I don't base my primary analysis on the composite. Of course I pay attention to it for divergenes from NDX, but it's the NDX that is important for me. I have no target for my NDX breach of the September lows. What I have a set of conditions I want met. 1) Breach has to be deep (i.e., not chart-chaser cute) 2) A local bullish divergence in sentiment 3) Lot's o' volume. 4) A noticeable quick drain in the glamour trash like QLGC, EMLX, and their ilk. 5) Worry in non-tech land. I don't care if folks are down on INTC as much as if they show some fear in MMM and PG (for example). All I can do in this situation is what one should always do imo -- leg in in 1/4's or 1/3's.

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