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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: Lee Lichterman III who wrote (13746)	5/13/1999 9:59:00 AM
From: StockOperator	Read Replies (1) of 99985

Good morning all, Just updated my charts from yesterday and I must say that many stocks made very timely moves the past couple of days. Some of the majors likes GM, Dell, the banks and airlines - Things are beginning to look very well again with some of the damage being repaired to the intermediate term trends. Still the one thing that I would like to see is a decisive move on the DOW especially on a closing basis, positioning itself for a break through this recent consolidating period. But I am getting excited again because I do believe prices will hold today. Let me also add that because of Rubin's departure yesterday I firmly believe that it will be policy as usual at the Fed. Personally I don't believe the "President of the Economy" would subject the markets to a double whammy of his leaving with the Fed rising rates. I could be wrong. But let just say that I have more faith in their judgement. So today should tell the story. Things are definitely breaking out. This could indeed be an explosive rally. Good trading. SO

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