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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (51084)	8/23/2002 1:00:25 PM
From: marginmike	Read Replies (2) of 209892

seems to me that this selloff will be a dip to buy. Now dont shoot the messenger but this selloff is looking very corrective. Volume is contracting and lots of leaders have bullish devergence to when market was at this point a week ago. If Vix backs up, and stoastics become less overbought and pc's become less frothy then all signals will be ST bullish IMHO.Assuming we maitain a higher low.I have said this enviroment has been very confusing, however a good selloff to S&P 900 would put alot of things in the bullish camp again. The VIX action should disturb the bears. I think this selloff needs to go further down first and think Zeevs targets are pretty good and will put a good scare in da bulls.

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