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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 671.91

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Nov 14 4:00 PM EST

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To: Lachesis Atropos who wrote (20643)	5/1/1999 6:53:00 PM
From: Johnny Canuck	Read Replies (1) of 68005

Lachesis, Is there any particular reason you entering the market again at this point. To be honest I am starting to get more cautious. It looks like the DOW transports and the utilities are confirming the new DOW high. The increase in the number of stocks more that 2 STD below their 200 SMA is still declining so this is indicating a broadening of the current rally. The current level is 22 percent. We can get to 15 percent before we reach the extreme of last year. The TYX looks to be locked in a trading range, with Fridays sell off pushing it to the top of the range, so the bonds should pull back. I am not sure the GDP number support a significant pull back though. It looks like you are revising your trading strategy to focus on group as opposed to individual stocks. It looks like you are adding so FA to it system too. Harry

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