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To: yard_man who wrote (20906)	2/22/1999 9:29:00 PM
From: J. P.	Read Replies (2) of 86076

I'm not covering just yet. decisionpoint.com I construe today's rally to be a sharp reflex rally on a downtrend, just as we have sharp selloffs on upward trends. It is also my belief that today's rally was helped by shorts being stopped out and forced to cover. The only question is when it will happen, and if April puts are safe, or if it'll take the June puts to get the job done. Maybe the Robber & Stealers conference will temporary levitate the walking dead, but I've never seen the Nasdaq not continue a downtrend to the 200 day moving average, particularly in light of the fact of the strength of the upward rally. I'll feel safe going long when the Naz hits 2000 and there is a capitulation selloff day. We've had nothing even close to capitulation selling yet.

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