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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 660.19

-0.8%

Nov 18 4:00 PM EST

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To: bobby beara who wrote (7343)	3/2/1999 4:26:00 PM
From: donald sew	Read Replies (1) of 99985

Bobby, >>>>> Donald, we are sitting right on the XCI support of 812, tested it and bounced yesterday....... If we fail to break 812 soon, I would have to become bullish. Tomorrow is day 55, make or break. <<<<< I just checked the XCI and I have a CLASS 2 BUY on it, which implies that the downside may be limited. I also have a CLASS BUY on INTC but I would not recommend it. The HiTECHs are mostly in the oversold range while the AIRLINE,FINANCIALs,INTERNETS are in the overbought range. Is this a sign of further sideways trading. Or is todays strong intraday reversal a sign of a intensified selling immediately. As ominous as todays intraday reversal was i feel a little bit more of sideways trading. Dont cut your PUTs short yet Bobby if the selloff doent continue immediately - DANGER around the corner. seeya

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