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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.88

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Jan 30 4:00 PM EST

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To: Tiley who wrote (17706)	9/1/1998 12:02:00 AM
From: Clint E.	Read Replies (1) of 70309

Hi Manish. >>>As an aside, did you notice how some of the beaten up companies did very little today - they've been so washed out already. Yes. Not any profit is in such stocks. Market fall in the last hour was due to profit taking in the leaders with lofty 52-wk gains. Stocks such as MRK, GE, MSFT, DELL, CSCO, LU, PFE,......Volume picked up as well. >>>identify the unbelievable values It will be the same names that led before. The question is when. The selloff since last Thurs. has been quite tricky. Last Thurs. night, I was expecting short-term bottom @ 8050 with a teaser move to 7950. I was expecting DOW rallying to 8450 before falling back to 8k again. Today's selloff proved to be nastier and if there is a follow-thru selloff tomorrow morning at the open, it would be very tempting to buy the dips with the expectation of reversal in the afternoon. Clint

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