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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (132869)	5/24/2006 5:08:23 PM
From: Shack	Read Replies (3) of 209892

So we got to the 1250 wedge target and I sold my ENER and MRVL poots. The latter providing me with some fun.-g Now the market is at a critical juncture. If that 1245-1250 support fails to hold then I think the market is going straight to hell. If it rallies hard from here then the entire recent plunge could easily be a C wave and the bull remains in force. I would steer clear of any long plays with too many "ninjas" overhead. Stick to the stronger stuff, no time for bottom picking. No need to tell you of course. I like FDX and possibly CME, but need to see a bit more action. Both sporting very possible abc's off their April highs. Yeah yeah, below their 50 day ma's.-vbg

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