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Strategies & Market Trends : Classic TA Workplace

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To: JRI who wrote (67043)	2/21/2003 11:27:34 AM
From: Perspective	Read Replies (1) of 209892

I've been watching us cozied up against the 200DSMA on Naz all week long. With us this close, I think we almost have to run across it for a chart-chaser head-fake. I can think of no better time for the market to do it than in the last hour today. Give the chart-chasers all weekend long to see it, on daily bars, weekly bars - get all those chase-the-200DSMA-breach buys in. But notice that no other major index is anywhere close to its 20DSMA. I think the breach would fail quickly. I'm looking for such a scenario to ditch long-side hedges. BC

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