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Politics : High Tolerance Plasticity

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To: energyplay who wrote (20020)	8/11/2003 8:46:15 AM
From: chowder	Read Replies (3) of 23153

I don't have any long positions in my trading account. I'm looking at short positions only, at this time. I shorted CAL last week for 15% in four days. Covered and shorted MU. I'll be looking to short another semiconductor or two if the S&P can close below 962. Then I'll be looking at retail for a short after the semi's break down further. Pull up a chart of the NASDAQ and you can clearly see the market is under distribution. Institutions are selling into the up days. Relative strength is falling. All of the moving averages have turned over and are heading down. Nearly any indicator you want to put on a chart is heading down. Then we have September coming up, the worst month for the market, historically. stockcharts.com[h,a]daclyiay[pc20!c30!b10!i!b50!c40!f][vc60][iut!Ub14!Uo14!Lm12!Lh21,3!Lk14!Lah12,26,9!Ll14!Lj[$spx]!Lf]&pref=G I'm going to be very careful about any long positions I may consider. The economy may be improving but, I don't see a catalyst for the market heading higher. We're almost through earnings season and we couldn't break above 1015 on the S&P. All in my opinion, of course. dabum

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