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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (58989)	11/8/2002 11:49:47 AM
From: The Freep	Read Replies (1) of 209892

Shack, it doesn't look like full breakdown mode to me here. The old highs of 1347 still haven't even been challenged, and while the Naz uptrend line has been pierced, at least, it was so steep as to be guaranteed to break. Let's give some time here before calling a breakdown <g> As I'm typing, the SOX and BKX are erasing most of their losses of the day, the CBOE put call is hovering near 1 (though equity only isn't so bad), and for all the excitement of the intraday turnaround, the Dow is down a whopping 50 points. The vix is barely up. It's not a red letter day for the bears, yet, though they hold serve. Ya know, a lot of people had Nov 7/8 as a turn date. The irony here would be if we just saw the turn happen. . . off a low! the freep

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