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Strategies & Market Trends : Classic TA Workplace

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To: NOW who wrote (67104)	2/21/2003 4:18:01 PM
From: Shack	Read Replies (3) of 209892

I have taken off every put I own except EBAY (which are July's anyway). Yes, even INTU! I think its just too risky in here to be short. I don't see any indication that this market wants to go down yet. I am unclear enough that I wan't to be flat (I was pretty close anyway). That being said, the hourly chart sure as hell looks like the up off the 13th was a 3-wave move which does indicate corrective. The only way it is the start of something big is if the down into today's low was the conclusion of a 'ii' of '3'. That leaves far too bullish a scenario open for me to be short anything. I will do some charting this weekend but my inclination is that we do not go down next week.

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