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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 21 4:00 PM EST

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To: donald sew who wrote (11389)	4/19/1999 10:43:00 AM
From: HairBall	Read Replies (2) of 99985

donald: Those playing the rise in the Dow Indices, my hat is off to you. However, this break by the DJI above the very long-term trading channel's upper rising trend line has me very concerned. I thought it would be healthier for the Dow to correct back from this resistance line of almost twelve years. The fact that the Dow Industrials and Transports are blowing past very long-term resistance lines has me concerned with a blow off top, which could make the coming correction much more severe than I previously expected. Of course, I may well be wrong, StockOperator and others may be right that this is the beginning of a new Bull Leg up. If so, I will have left more than the usual amount of chips on the table. However, I can live with that, as my timing for Market turns has been good to this point. No one wins them all...<g> Regards, LG Disclaimer: My posts are my opinions only and I reserve the right to be wrong on occasion. Do not base any investment decision solely on anyone's views or analysis. Do your own research and take responsibility for your own investment decisions.

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