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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: SusieQ1065 who wrote (78691)	10/18/2002 12:58:24 AM
From: SusieQ1065	Respond to of 208838

The big news was no news at all from IBM. They beat the street and did not warn going forward. They were not positive but they were not very negative either. Traders had been expecting some trouble at IBM and there was obviously a lot of short positions. IBM roared to a +7.30 point gain and powered the Dow to +285 numbers at the open. The rally lasted all of nine minutes. We went from zero to +285 and crashed into the resistance wall at Dow 8300, OEX 450. The Dow dropped back to 8250 by 9:54 and then traded in a very narrow 50 point range for the rest of the day. Dow Intraday Chart Picture of Dull... optioninvestor.com