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

To: rgjack who wrote (56642)	10/16/2002 11:15:28 AM
From: bcrafty	Respond to of 209892

rgjack, yeah I saw that about 7550 It might be too conservative, though. A 50% retrace is around 7725 and a 62% retrace is around 7598. Most (but not all) rallies are doomed if they go beyond 62%. I think the people on this board are much more aggressive and won't wait for a 700 point decline from yesterday to start shorting. MACD on the daily is showing overbought, and my short term moving averages (5 ema, 8sma) crossed down on the hourly charts so I'll be keeping a close eye on things for a swing trade to the downside, but I may wait until Friday for anything serious, as the options-ex shenanigans winds down. All the other big guns reporting this week are also going to make for some above average volatility and possible whipsaws.