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Strategies & Market Trends : Classic TA Workplace

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To: marginmike who wrote (49156)	8/5/2002 11:36:22 PM
From: bcrafty	Read Replies (3) of 209892

maybe lightning will strike twice in the same place, kinda sorta. We gap down, get an intraday $VIX reading in the low to mid-50s, then rally from a higher low than 7/24. The difference though, between now and 7/24, is that volume has been comparatively lower the last few days, which might make the above scenario more unlikely. Myself, I'd prefer the slow torturous grind to lower lows but with options-ex next week and a predicted ramp of some kind (however feeble) into next week we probably won't get that lower Dow low this week (also remember FOMC is Tuesday, whether it turns out to be the expected non-event or not).

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