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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (8841)	10/7/2001 12:21:16 AM
From: James F. Hopkins	Respond to of 19219

Maybe a back and fill but hopefully not over 7% on the NDX ..that would help more than a Gap up.. If it's more than 7% I'll get worried..if it gaps well that will just set us up down the road.. Every thing says we should back and fill, but taht may be the problem ( to many people counting on it ) ? I haven't put in the 5th numbers to know if the shorts piled in or not. The bigger picture is looking better, breath improving and all that stuff. I would rather see small 2,3,4, steps up & 1,2 steps back type gains than a rocket ship, but the market don't always give us what we want. I'm afaid that when the shorts put in enough stop loss orders the market makers will just "mark" her up to get them to try for a short cover panic.. which if they get to fast could scare the shorts off..Most people seem to think that the huge bubble was bougt at the top by J6P , but that's not so the top is always bought by shorts covering, just like the bottom is made by bulls selling. Jim