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

To: Stephen M. DeMoss who wrote (66568)	1/11/2001 12:32:09 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

Stephen M. DeMoss: I too am now short 62 and change as well. I set my stop loss a little above today's high. If we get a rate cut today, I'll be giving back the profits I made being long at the last surprise cut...<g> I will be looking to cover at several places. The wedge rising resistance line, which should now offer support. However, that is not going to be worth much so I'll most likely look to cover at the 12/11 falling resistance line which should now offer some support as well. Next, would be the rising wedge support line, with my final cover target point the 1-3 rising support line. I must be "up front", I use my intraday technicals to guide me as to when to cover, so I may cover at anytime. With SI acting up again, I may not be able to post my cover timely, if at all! Good trading and good luck! Regards, LG