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Non-Tech : Invest / LTD

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To: drsvelte who wrote (1475)	8/9/1998 8:34:00 PM
From: drsvelte	Read Replies (3) of 14427

Svelte's Sunday Shorts I agree with Thean; its difficult to discern just where the market wants to go. Small caps staged a rally of sorts on Friday while the Nifty Fifty and the blue chips didn't participate. The Internut sector that I watch staged a late afternoon rally. Down deep, I think this ragged rebound is perhaps a bull trap. I'm not convinced that "everything is OK now" and we're on the way to 10,000 DOW. That said, what shorts am I looking at for Monday: NFS (Nationwide Financial Service) iqc.com To me this chart looks ugly. NFS reported in-line earnings last week on 8/3 and the "sell on the news" commenced. Support at around 44-45. This is a short term short for 2 points or so. FDX (FedEx) iqc.com Not a pretty sight. FDX was under selling pressure Friday and ended the week in a vulnerable position. Broke thru support at 60 on fairly high volume. In addition to a "technical short" FDX does have some serious problems with its Asia strategy (unlike UPS). To be continued. . .

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