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Strategies & Market Trends : Point and Figure Charting

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To: Bwe who wrote (8160)	10/2/1998 5:45:00 PM
From: Judy	of 34811

Bruce, I remain wary on both EMC and PFE. PFE hit its 200-day ema this morning during the market selloff and recovered with the market. The sell volume today was heavier than usual which hints of distribution. PFE is a good proxy for the market, but todays market rally seems to be the result of short covering before the weekend. I'd not make a new investment in PFE until I see that it will not break when the market bottoms. EMC shows great relative strength when the market reverses up. But on an overall basis it trades like a short, so I suspect 3Q earnings will be fine but would not be sanguine about future quarters performance. btw, EMC and I have been friends for years, always been profitable ... long or short. Get some rest this weekend, my dear.

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