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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (52463)	9/4/2002 8:20:39 AM
From: AllansAlias	Read Replies (3) of 209892

Yes Shack, Rydex has gone super-bear. Things look like they have setup for a bounce for sure, but I wonder how far it can go. Yesterday gave us a whole new set of technical failures, notably MSFT and the banks -- technical failures are not supposed to allow much of a backtest -- that's what makes them such a good signal. I am carrying only doom puts at this point, some Oct QQQ's and am 95% cash, but I think lots of more experienced bears are in this position as they are the most skittish. Maybe we have to rinse the clown shorts that piled on late, but I would not count on this bounce, if it even comes, getting very far.

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