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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Benkea who wrote (48269)	4/27/2000 4:26:00 AM
From: Philipp	Read Replies (2) \| Respond to of 99985

Benkea and Sting-Ray: And I thought it was me. Everyone is expecting schitty numbers tomorrow AM and an ensuing sell off. That NEVER happens when expected. I agree. I went short yesterday morning, just to take profit at the end of the day and to go long (not my original intention). This is a classical set-up for a relief rally, provided the numbers today are not as bad/much worse than expected; and the market often only needs one number that is not too bad to cling its hopes to. But this would be another rally that should be sold into. Just like last time when there was a similar setup and the NASDAQ fell by 25 % the next week, and the bearish pennant looks ugly indeed. Good trading to all. Phil