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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: Kirk © who wrote (19059)3/14/2006 11:43:50 PM
From: J.T.   of 19219
 
Both charts speak volumes.

Bears have to hope for any kind of pullback tomorrow to GET OUT of SHORT POSITIONS.

Unfortunately, Mr. Market is now primed to deliver a knock-out punch to Bears after an overhand right today.

I have learned that most traders who position Short will not eat the loss and reverse and get Long on a broad based rally day like today.

They would rather hope for the one day pullback and reverse Long.

Now I fear there is going to be a high degree of pain delivered to Bears who do absolutely nothing and remain short.

Losses can get turned into routs as the short squeeze accelerates.
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