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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (28578)	1/27/2001 1:41:39 PM
From: Ron McKinnon	Read Replies (1) \| Respond to of 53068

>>>Strange how one person can see an overextended rally while another person sees a base to build another rally on it is possible that both are right ie, the recent rally is a bit overbought but at the same time it is in a bull trend from a base with gradually higher lows the NASD closed at 2780 with ema's 200-3400; 90-2900; 30-2575 and for the SPX (close 1355) they are 1415-1360-1320 it would seem that there are few reasons why the market would either retest or break the 52 week lows sans some major external event for next week the question is how the market, sectors, given stocks will react to the FOMC decision I for sure do not want to have any shorts on that day even though there is a chance for a selloff as the risk/reward would be poor conversly, if long I would want to have very tight stops on even though in a fast market condition those may result in crappy fills if triggered on a day like that no one can really game the action ahead of time so if capital preservation is the goal it would be best to go into the meeting light then try to react 20-20 minutes after the fact