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

To: Doug who wrote (74255)	4/5/2001 3:11:17 PM
From: Rob S.	Respond to of 99985

Stocks and the indexes often move sideways during the mid day "grinder" period. There is still plenty of shares held short and a LOT of money on the sidelines waiting for confirmation to jump in. As long as the market does not give up the majority of today's gains toward the close I think the rally will continue on through Friday with some profit taking possible before the weekend. This probably does not mark a "V" bottom; a retest of recent lows is more likely than a sustained move up. But the degree of recent short selling and market pessimism as depicted by the TRIN and other indicators shows cause for the rally to continue for 3-4 days. Volume is impressive enough to shake some of the "optimism" of short sellers.