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

To: John Madarasz who wrote (40355)	5/27/2002 5:06:49 PM
From: At_The_Ask	Read Replies (1) \| Respond to of 209892

Those numbers don't get that high very often; fairly discouraging from a bears point of view. The fact that CNBC has been spinning the recent downside action as "fears of terrorism" gives me concern for a "buy or the terrorists have won rally" part two. I honestly don't believe that the selling was inspired by fear; rather by the real issues, overvaluation, no profits, options accounting... Technically I believe that the corrective up from the 7th to the 15th is complete and a larger down wave will follow. It has completed three waves up and only one subsequent wave down. Hopefully we should get a C down to match the leg down from the 15th high, if not an impulse wave. If we're in the b down of a flat then the lows at 1560 woud be a likely target.