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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.86

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4:00 PM EST

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To: xcr600 who wrote (18619)	12/1/1998 12:34:00 AM
From: Clint E.	Read Replies (1) of 69340

Hi xcr600. >>>>your thoughts on today? Healthy profit taking or the beginning of a bear trap? This is a healthy profit taking that has more room to go. The NAZ is heading toward 1880(now @ 1950). The SOX has more to give too, all the way down to 270-280(now @ 306). DOW could test 8850-8900(now @ 9117). IMO, we have seen the highs for this year. We are going to spend the rest of the year swinging back and forth. The best thing shorts can hope for tomorrow is a soft opening to short into, especially if stocks are quickly brought back up. In the following days, it does not matter if we make a weak attempt to re-gain some of our today's losses. Each individual stock will go thru its own profit-taking motion in the coming weeks. That is more important to remember I like CPWR as a short tomorrow. It has at least four points to give. Clint

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