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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.10

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Jan 23 4:00 PM EST

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To: drsvelte who wrote (19987)	2/20/1999 7:17:00 AM
From: Iris Shih	Read Replies (1) of 70004

doc, "FWIW, I thought today's market to be uncertain and searching. No real leadership, except the financials seem to be performing better each day. The techs and NAZ are really a riddle and I didn't see a whole lot of positives. INTC went south at the close after being up more than 2 and VTSS was weak all day. Some software was up. Still in a state of flux." I think the weakness of intc at the end was option expiry related. It's very tricky to read into intc's action during option expiry. Also look at vtss daily chart, two hammers in a row with good volume worth watching. Market probably will range bound for a while, so do semi equipment makers. So take profits as soon as possible either for longs or shorts. Just don't overstay. Weak volume on Naz yesterday still bothers me though. Iris

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