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Strategies & Market Trends : Waiting for the big Kahuna
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To: Chip McVickar who wrote (38634)3/18/1999 7:09:00 AM
From: bearshark  Read Replies (2) of 94695
 
Chip: I like the 2 or 3 percent number. I am hoping for a test of about 1280 and 9625 at the same time. I don't know if we can get that low. If we do and they do not hold, I would look for about the 9450 level as being the next key decision point.

If things go right, there could be another excellent buying opportunity within the next week. Things were stretched a bit too far and the masses could not be attracted. There should be another attempt at pulling the masses in over the next week.

I read your note to GZ about the 25 cumulative number. I agree with what GZ said. You see the waves in the numbers. I look at the 25-day issues number as another example of the energy in the market. It has limits in both directions. The lowest was prior to October 1998. Using this number with others is a very effective way to identify the limits of moves. When a number of them reach their limits in the same direction at the same time, it is an excellent opportunity
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