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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (15616)	4/10/2001 3:20:32 PM
From: ColtonGang	Read Replies (1) \| Respond to of 37746

Shorts had hoped for PM weakness but today they will scurry around buying back stock as we close strong.

To: JRI who wrote (15616)	4/10/2001 3:25:56 PM
From: marc chatman	Respond to of 37746

don't really have a number in mind. i thought the upper bolllinger bands for now might contain the dow and spx. i currently have the upper bb's as: dow: 10,154 spx: 1,189 the 15 minute charts appear to be setting up for a nice pullback, if we can make marginal new highs here at perhaps around 3:30. but i'm a bit concerned about the 1 hour charts which still look very strong. the strength of this rally and the mass psychology of the bulls willing to throw money into this market have me holding off from adding new put positions.

To: JRI who wrote (15616)	4/10/2001 3:35:08 PM
From: marc chatman	Read Replies (2) \| Respond to of 37746

JRI, the more I stare at the dow chart, the more I feel we have just finished wave 3 of C. We need wave 4 down (currently in progress) and 5 back up. I think we end this rally late tomorrow (possibly early Thursday). I think Raptor's targets look pretty good right now. I'll wait to see where wave 4 ends before guessing where wave 5 will go. Wave 1 was about 240 points on the dow, so, if we retrace to 10k, a symmetrical pattern would suggest 10250.