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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (21363)	7/29/2002 1:07:04 PM
From: ajtj99	Read Replies (2) \| Respond to of 26752

Dave, give me a break. This is a ramp that's taking out shorts. They gapped it up this AM, they bought SMH futures on Friday. The volume today is not great. This is a manufactured rally. The last time we had that was at COMP 1315, and we went up to 1426 and back down to 1192 in a very short time. BTW, I have never seen the VXN drop straight down. The normal drop is on a 45-degree angle. This looks suspicious. If we keep ramping, the drop will not be pretty. They will have to gap up again tomorrow if they want to keep this going. Below 1290 COMP is a free-fall to COMP 1220.

To: Dave Gore who wrote (21363)	7/29/2002 1:21:55 PM
From: Susan G	Read Replies (1) \| Respond to of 26752

The resistance the nasdaq is hitting here is the bottom of that month plus long broken trading range. MAa be tough to break into and hold onto without a huge squeeze or another am gap up...