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Strategies & Market Trends : Classic TA Workplace

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To: Perspective who wrote (148077)	8/14/2007 4:48:18 PM
From: Shack	Read Replies (2) of 209892

You've crystallized my thoughts eloquently! Of all the indices with the greatest 'b' low possibility is the crappy old $XBD IMO. At the very least I expect some kind of bounce which I can watch. That sector has been the leader during the decline and it did not make a new low today, although of course a 'b' can. This is why I thought taking a few profits was a good idea. In answer to your other question, I do not trade wiggles so I can't really answer you regarding buying a gap down...but I probably would not and wait for your "higher probability set-up". Not enamored with the volume either, after all its "supposed" to be a 3 down! I think there's a half decent chance the bulls have a last gasp in store for us before we tank for real. I have exposure so if they want to take this thing down tomorrow they can feel free.

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