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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (130446)	3/10/2006 11:04:25 AM
From: bcrafty	Read Replies (1) of 209892

Shack, if SPX closed below 1248 and/or COMPX closed below 2200 would those be lines in the sand where you went from intermediate term bull to bear, or would you only go from bull to neutral? I do understand your overall current stance and your implied call of not rushing to judgement just yet, which today I read echoed by Alan Farley at thestreet.com: "The major indices are still grinding through sideways patterns, despite anything you've heard to the contrary. It's driving me crazy to get drowned in bull swagger on each uptick and then dumped in bear bluster on each downtick within this go-nowhere ticker tape. Why doesn't everybody, including myself, just shut up for a while and let the market show its hand? Maybe this is a topping pattern and we're all doomed. But it might also be a continuation pattern, with new highs just around the corner. In either case, let's lower the noise level and not see every minor move as a market ultimatum."

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