The OEX... gasp! Message Board

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Strategies & Market Trends : The OEX... gasp!

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To: George who wrote (559)	2/20/1997 10:08:00 PM
From: Richard J. Byrd	of 658

George: I just checked with Prudent Trader,'ol Dean himself, who is at: geocities.com and his indicators went to Full Sell this afternoon, but with several support points hovering just below present position. His analysis looks pretty good. He says go short at 783 if it fails to rise above 785.5 and use a protective stop at 787. I also agree with his warning that tomorrow is double-witching day and that makes for a very unstable market (just when is it ever stable?) As for me, I'll probably take a pass tomorrow but watch it closely. I still there will likely be a retest of the 790+ highs before we are in risk of a biger selloff, but getting calls and looking for that last bounce could be risky. Don't get me wrong - I'm not a real bear - after a 5%-8% downturn, I believe we'll see last week's highs again. Dick

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