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Strategies & Market Trends : Ask Vendit Off-Topic Questions

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To: Vendit™ who wrote (8210)	4/27/2005 11:17:19 PM
From: Walkingshadow	Read Replies (2) of 8752

AFL is a reasonably good short now, but $40 would be an even better entry since that represents chart support: 139.142.147.218 Only about 4 million shares (3 day's trading volume or so) are held short, so the risk of a short squeeze is not too great. I do notice that AFL likes to move within a trading range... and it is near the top of that range. But personally, I am not looking for anything to short at the moment. That said, I don't think today's rally off the lows will last long, and we will again revisit those lows by the end of the week. Even though the market traded down and saw buyers, this was countered with selling as the market was advancing, and QQQQ will have to react to this in the short term by again testing support at $34.80. There is an outside chance it will test lower support (successfully) as well, but I think this is not very likely. T

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