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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Tom Pulley who wrote (16199)	2/8/2003 5:54:52 PM
From: Steve Lee	Respond to of 19219

"I contend that by definition, the "smart money" already sold" I pretty much agree. Remember the smart money is so smart that they make huge trades which cannot be distributed all in one day. So they have to find new suckers over a range from the top to lower down. And there are different degrees of smartness amongst these spart people. The very smartest sell at the very top, while the half-smart, sell halfway down. ANd if you think that the distribution phase is coming to an end, then the decline will start to accelerate right about now. If in three months' time the $SPX is 200 pts lower, will those who sold yesterday still sound not so smart to you?