Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.66

-0.1%

Jan 16 4:00 PM EST

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To: Logain Ablar who wrote (38684)	12/31/2002 2:52:21 AM
From: Johnny Canuck	Read Replies (1) of 69862

So what do we do? All three indices remain well below their 50-day moving averages and below their recent trading ranges. Also, most sectors are now catching up to the poor action in the stocks within them: The semis (below) are breaking down out of an inverted cup and handle. Software looks poised to take out the bottom of its trading range. And, Internet took out the bottom of its trading range. Further, as I look to numerous individual issues, I'm seeing plenty of stocks that could set up soon as shorts and very few meaningful longs. Therefore, it looks like the short side is the place to be. However, New Years Eve will likely be very thin and choppy. So, if I were you, I'd forget about trading and look to get a head start on celebrating. hardrightedge.com

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