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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: ViperChick Secret Agent 006.9 who wrote (16753)5/12/1998 2:27:00 AM
From: Doug R  Read Replies (2) of 79378
 
Lisa,

If you were a huge participant in the market and you were given the 100 point plus "gift" that was handed out in the early going today, would you accumulate...or distribute??? It is painfully obvious to all but DD holders that today was an opportunity to sell into strength. It happens every time. The sell signal is still very much intact.
In order to keep things in perspective, when the Dow dipped below 7,000 for several minutes on 10/27, that was a HUGE buying opportunity. From the Dow's most recent intraday high, 8300 would be very low. Now, compare 7,000 in Oct to 8300 in June............SO WHAT???? Just be careful with your short term positions. That's what I said 3 weeks ago.

Doug R
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