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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 665.67

-0.9%

4:00 PM EST

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To: Moominoid who wrote (14455)	5/20/1999 10:23:00 AM
From: donald sew	Read Replies (1) of 99985

David, if you saw my recent updates, for the time being, I am only seeing a trading range with 4%-7% swings for the intermediate term until JULY. So for the intermediate term I believe that this is just a topping process which began around APRIL 8-13. On a averaging basis, we really have gone nowhere either up or down, which was highlighted by money rotation. Since early April, it wasnt too good being in HiTECHs/Internets/Drugs/etc but good if one was in the cyclicals/basic materials/transports/etc. Of course that is a general comment since there were some stocks that were exceptions. If rates gets above 6.00% during this period then I will feel that the downside potential could increase beyond a trading range. seeya seeya

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