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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (9546)	8/9/2001 11:57:14 AM
From: marginmike	Respond to of 209892

Allan the trend is down, we all agree. However on a realitive basis BKX is coming off strong Earnings by most of its components. Sox companies earnings were obliterated, and ST the writeoffs will create the mirage of a recovery. IE if Sox drops to 540-560 ill play a LONG to 600's. Always with tight stops. I think BKX hasnt even gotten close to being WHACKED and could easily fall 100-200 pts if Banks start fessing up, like Semi's did. Remember Semi's were rockin and rollin until they had to fess up. Banks/brokerages have had a lot of comoflague to hide behind. The numbers on consumer credit this month is OMINOUS that Banks will be the big casulty this coming warnings season. Lets not mention Volumes on exchanges and carnage in brokerages.,