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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Roger A. Babb who wrote (680)1/14/1998 10:30:00 AM
From: WBendus  Read Replies (1) of 18691
 
What a goofy day so far in the market. There has been a very narrow trading range of about 20 points, where the highs are at 7750 and the lows have been rising from 7728, 7730, 7731. The market has hit 7750 equally as many times and now looks to be breaking below the 7730.

I suspect that there is going to be continued rotation out of the market. As I stated before, smart money appears to be selling into the rallys and the individual is buying the dips.

There is lots of near term support for the market, low interest rates, new money, possibly improving Asian markets and virtually no inflation.

Playing this market is going to be very tricky because the moves are going to be swift and powerful, especially during earnings season.

I think INTC has given us a clue on how to play this market. Buy the rumors and anticipation and sell the news.

Wayde.
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