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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (21244)	11/5/1998 11:27:00 AM
From: James Strauss	Read Replies (1) of 50167

Ike: The S&P 500 stopped two points short of the 1120 resistance level on a closing basis but had an intra day high of 1127... I call that probing... Many times the intra day highs and lows can give us a clue of future stock and index direction... Sometimes at extremes they represent turning points... The New Lows continue to dry up... Market MoneyFlow is still positive... The combination of S&P Earnings and Dividend yields are above three month Treasury rates... The FED appears to be in an accommodative mood... So, until the Dow and S&P close below their 13 day MA's my money is in play in the market... Jim

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