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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: dennis michael patterson who wrote (41334)12/2/2002 2:12:07 PM
From: Paul Shread  Read Replies (1) of 52237
 
Just got this email from Marketswing:

Market Swing Discussion: Chat Room Notes and Recaps
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Posted by Nikko_thyme on Monday, December 02, 2002 - 2:08 pm:

Chat Notes From Norm:
No new Signals per his system to report.

The Weekly Sell Signals that he thought were negated were not, and he is starting to get Weekly Sell Signals again.

He suspects that we are at/near a top, and that the top may have already been put in. He noted that junk is running, and that this has often signaled the end extended rallies.

NAZ/NDX have a Dark Cloud Cover candle pattern, but he noted that candles have not been a reliable indicator during this rally.

He calculates that Max Pain for QQQ is at 26 and is expecting a pull back to at least there and then a re-test of the high +/- 7%.

He said that the Dollar looked like it was going to break down and he had it on a sell.. HUI is in mid-range. I mentioned that earlier last nite the BOJ talked about devaluation of the YEN, and that could affect the near-term price action on the Dollar.

That’s about all I recall. Like I said, he really did not have much to talk about and not many people there.
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