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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: Lee Lichterman III who wrote (9906)	4/5/1999 11:17:00 PM
From: StockOperator	Read Replies (2) of 99985

L3, I don't know if your question was addressed to me. But I would ask you whether or not that 30% increase in online trading was a direct result of established accounts moving their trading to the net. I don't know. I just finished looking at my charts and wanted to close my night on SI with a few comments on how things finished off. The one thing that struck me was the position of prices for some of the major stocks and indexes that I follow. Today's close had prices either breaking into record highs or right at that level. I really believe that we are at some sort of juncture point. A point where prices are going to break the consolidation of the past couple of months while a new trend develops. Or possibly we are going to get a bull trap where the deteriorating market internals finally catch-up with this bull and this rally fails in its attempt to break. Here are a few stocks that didn't perform so well today. There are definitely worth keeping an eye on. AT&T, Merck, and Chase Man. A new leg of the bull market will not be sustainable without these three. I will be away tomorrow. I hope you all have a profitable day trading. SO

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