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Strategies & Market Trends : Longer-Term Market Trends
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To: AllansAlias who wrote (948)6/13/2008 4:04:59 PM
From: skinowski  Read Replies (1) of 3209
 
Yes, good point, it's true. Was a good line. Buyers came in as if on command. Does this mean much in the longer run? Maybe not. Such lines very often fall - on the 2nd or 3rd try.

SPX retraced 38% of the leg of a decline since June 6. The trend is still down. I'l probably short any strength on Monday - but if I see SPX above 1375 - the plan is to say "Oh ch*t!" - and to cover, or hedge. Or to look for a long entry. Above that level, it looks like the bear is liable to become a sick puppy, at least for the near term.
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