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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (42696)	6/20/2002 3:45:04 PM
From: ajtj99	Read Replies (1) of 209892

AA, I hope we do too. I had my eye on NDX 1055 for the LOD. If we get there, I might just have to close my puts to re-position at a higher level. If we get to TRINQ 5.0, I may have to do it anyway. We need some kind of relief soon, but I wonder if we'll get it. You could make a good case for this as an "A" down. You could probably make a case that this won't bounce until 1000 NDX or so, and then it will be brief. One thing about indicators is that they do tend to allow one to see things like this unfolding in more than just price action. Also, the flag today looked very much like a bear flag on the 15-minute, with lots of failures to advance. The flag allowed some of the oversold conditions to be relieved so we could get an end of day dump.

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