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Strategies & Market Trends : Classic TA Workplace

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To: reaper who wrote (46898)	7/23/2002 10:24:22 AM
From: AllansAlias	Read Replies (1) of 209892

Chances are good that this bank action is only a shot across the bow. We all agree that credit bubble is everything. In the last two weeks, for the first time, it has taken some direct hits (from a technicians POV). It is bursting and the pretty pictures are all bent now. Thing is, this "washout" is likely not the end of it at all, but only the beginning of a larger move. Sure, it could take years to unwind, but charts say MORE DOWN ahead. It's a scary time really. We've been saying for a couple of years at least, many here longer than me, that this was going to hurt. Now that it is upon us, it makes me very nervous for my friends and neighbours. Take care, Allan edit: Maybe Hays and Stack will capitulate today if we get more down. Doubt it tho' -- they will just scream louder about being oversold. I am not a genius so I use a certain trick -- boys, it's called STOPS. -g/ng

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