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To: patron_anejo_por_favor who wrote (33828)	3/9/2002 11:37:32 AM
From: skinowski	Read Replies (1) \| Respond to of 209892

>>>...the failure of the rally to hold in the Dow yesterday<< Patron, looking at the hourly chart of INDU one still sees an ongoing series of higher highs and lows, in a so far healthy looking channel, trending up at almost 45 degrees on my QCharts. Having said that, the action now is near the lower support trendline, and at this point a break of Friday's lows may indeed turn out to be meaningful.

To: patron_anejo_por_favor who wrote (33828)	3/9/2002 2:11:23 PM
From: Joan Osland Graffius	Respond to of 209892

patron, >>signs of exhaustion are already setting in If you look at the NYSE index it sure looks like exhaustion is taking place. Of course the money is chasing the technology stocks on the NAZ so it could be just a shift of funds to what is moving. Before this is over we should see speculation in the pennies. Is anyone watching them? Joan

To: patron_anejo_por_favor who wrote (33828)	3/9/2002 10:20:18 PM
From: yard_man	Respond to of 209892

I gave up last shorts on Fri patron -- not because I don't think the move has been crazy or looks extended. Both of those are certainly true. Heck, look how far the $SOX has come in 2 weeks ...all the same, there are more people now that know the fundamental situation and have been adding shorts recently and some that are waiting for a sign of the turn back down -- I think this will provide a secondary very large spurt which may be short-lived, but painful if one is short. The commercials will be right I have no doubt ... the only question is from what level we turn down. I think it could be significantly higher and a few more weeks away.