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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.86

-0.7%

Dec 31 4:00 PM EST

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To: Lachesis Atropos who wrote (40811)	3/10/2004 12:49:04 PM
From: Johnny Canuck	Read Replies (2) of 69344

Hi Lawrence, How are you? We have not heard from you in a while. Are you finally back to working a day job with the slight up tick in the economy or are you concentrating on trading? I am not surprise those companies are trying to raise cash as they are still losing money and continue to burn it at a high rate. The low interest rates are allowing a lot of companies to float junk grade bonds and do private placements. The recent increase in IPO's is an indication of the current demand for stock. Currently, my indicators are in the middle range so expect a lot of chopping around. I expect a bounce then another move down. A 10 percent correction from the recent high on the COMPX is 1800, so the indice can do that much of a re-trace and still technically stil have a positive bias.

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