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Strategies & Market Trends : Take the Money and Run

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To: Lost1 who wrote (15411)	8/17/2002 10:27:30 AM
From: Oral Roberts	Read Replies (2) of 17639

I agree, BUT the BP's have reversed from quite low levels, the levels you would expect a decent bounce from. While this happened in March with the index's giving buy signals they BP's were in O's at that time so there wasn't a confirmation there. I am not suggesting that the new multi year bull is upon us because at these valuations I don't believe that at all. But I am thinking we are going to get more run here then we all might have thought. VIX and VXN have both clearly reversed into downtrends, and from levels you would expect them to turn for good at. BP's are all in X's at this point I believe and from quite low levels. I mean the semi BP's reversed to X's from 8 which has been a pretty safe level in the past to buy at. We are due to pull back and I would expect we start the week off that way. I personally will be exiting shorts and looking long at least for the near to mid term.

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