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Strategies & Market Trends : Guidance and Visibility

AAPL 271.50

+2.0%

Nov 21 3:59 PM EST

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To: SirRealist who wrote (77379)	10/12/2002 8:29:49 AM
From: GREENLAW4-7	Read Replies (1) of 208838

LOL Sir, there is something that many longs and Bulls are forgetting, in the July fall the Dow fell from 9500 area to the 7500 area in like 3 weeks, then it had a snap back to the 9K area. lately we have the dow breaking down rather slowly since Aug, 24, and has slowly and methodically taken out all the support levels. This process has taken about 7 weeks double what it took in July, and we snapped back 650 points from the thursday low in 2 days. The point is this, if you look at the big picture the Dow fell from 10,300 to 7500 in about 7.5 weeks then retraced back to 9000. This wave it fell from 9000 area to 7300 and retraced just about 40% to the 7900 area and logic would say this wave could die at 8000 or very close to it. most important is that the next leg down should take us to 6500 area on the Dow. I am a bull like everyone else, I just don't see any reason to buy this market here. Good luck all!!

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