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Strategies & Market Trends : Classic TA Workplace

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To: skinowski who wrote (52874)	9/9/2002 11:35:23 PM
From: Shack	Read Replies (3) of 209892

Just looking at Rydex and the QQQ Sept Max Pain, I really think any down here should be bought in the near-term. Those Rydex bears are really primed here. Lots of money went into short funds today..an up day! Ursa really ramped. Meanwhile QQQ Max pain is clearly 24. Too many poots will go ITM with a dump here IMO. Technically it looks like we should get some down s-t(I would be surprised if the NDX does not retest its lows), but the proliferation of bears is telling me hard down will not happen right now. But as you have said, clearly the larger structure is corrective up. Down will eventually come.

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