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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Blue On Black who wrote (3647)	6/29/2000 10:31:00 AM
From: macavity	Respond to of 19219

Grevoious - I agree with your observation. Short-term <5D the stocks have been coming off but now look to be oversold. This open would have aggravated it. However on a medium term 10D - 40D the trend is still up. We are approaching a point/time where either the medium continues or is broken. If it holds then back up we go, if not then KERPOW see you at the May lows. I always give precedent to the longer timeframe, hence I am not bearish. I would not buy without a very tight stop at these levels, prefering to leave buy stops above the market hoping to catch any snap back. This (swingtrading) strategy sucks when the market has no direction/trend as it has not for the whole month. Hence you can find me waving from the sidelines. -macavity