Continuing the IFMX discussion and more... Message Board

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Strategies & Market Trends : Continuing the IFMX discussion and more...

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To: Robert Graham who wrote (170)	9/11/1997 11:45:00 AM
From: Robert Graham	of 206

Well, it looks like the Dow will revisit 7580, very possibly today. The two stocks that I am into right now through options are holding up. This is because they had established short term momentum due to their breakout a couple days ago. Much of the market weakness has been in the larger cap blue-chip issues. As quickly as this market has been going down, I think we can expect at least a bounce at 7580. The TICK is decreasing from a negative value of -641 to -238 which indicates the market is abating from its oversold condition. This together with the TRIN increasing from 0.75 to 0.93 indicates to me that even though there has been gains by a group of stocks to offset the overall drop in the market, the strength of the downside is increasing. Bob Graham

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