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Strategies & Market Trends : today's chart

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To: The Perfect Hedge who wrote (576)	9/18/1997 12:23:00 AM
From: Bill Sandusky	of 1267

GD, CCI(13) became "overbought" on a daily chart on 9/9 and gave a Sell Alert on 9/11. This was your warning that momentum was diminishing in CKR. You ask if today's pullback (-1.938) is significant. Looks like normal profit taking to me at this point (CKR has enjoyed a tremendous runup in recent days). Remember too, that Friday is "tripple witching" which often times affects markets in unpredictable ways. At the moment, CKR is resting on Gahn and MOB support (better than average support). Next support is the 38ish area also from Gahn. Market will dictate where CKR goes from here IMO. Bill

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