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Strategies & Market Trends : Group Theories

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To: macavity who wrote (799)	11/15/2003 5:07:48 PM
From: macavity	of 1017

IT Outlook: $USD. BEAR from BULL Massive change in direction this week or two. Price moved greatly but as it was a whip-lash, IT momentum has changed sign, but looks like it is divergent. Pattern appears to be a broadening pattern around the $USD=91. traders.com share.esignal.com All I will repeat is that it is a scary looking pattern but it is forming a significant low, as we have divergence in LT_TREND. As I just follow the mo!, I have idea where this 'bottom will be. We are now ST o/sold in what is a IT BEAR trend that is not too strong, due to whiplash. I have no idea whether support at 91 will hold - the broadening nature suggests not. I closed out my CHFShort/USDLong for a profit, but still hold half my EUR position, which is now at a loss. I will cut this on Monday and put a USD-Buy stop above the market as we head down. Short EUR Long USD. Strategy: Still looking to go long USD when this decline ends - could get nasty and volatile, or nastier and more volatile! -macavity

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