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Strategies & Market Trends : Classic TA Workplace

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To: jjstingray who wrote (101177)	7/12/2004 5:10:10 PM
From: Shack	Read Replies (1) of 209892

I don't find the semis in as bad as shape as you do, but they don't look bullish either. Its just a mess to me. I have 3 scenarios for the NDX assuming there is follow through on the reversal today: 1) We are doing a wiggle 'ii' of C up, likely no higher than 1480 before the next shoe drops 2) We are doing an 'e' up of a large wedge off the March lows, this should give us a run to 1530 or so before the "real" C down begins. 3) We are pointing up in a '3' off the March lows. As I've said many times recently, the financials have a very bullish set-up near-term and today I added some AXP August 50 calls. They're all I care about right now.

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