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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: kodiak_bull who wrote (22608)	12/11/2004 3:25:29 PM
From: GREENLAW4-7	Read Replies (1) \| Respond to of 23153

Thanks Bull, I agree that scalping is only allowed in this sector but at some point I believe FED will do .5 and at that time a top will be in. Have a great HOLIDAY season!!

To: kodiak_bull who wrote (22608)	12/16/2004 12:30:01 PM
From: bull_derrick	Read Replies (1) \| Respond to of 23153

Kodiak, I went short on some TOL a little while ago today. I believe the stocks in this sector went up too far and too fast. Given the drop in housing starts statistic today and increasing interest rates, and I'd suspect that TOL will retest its 50 ma sometime in the next 4-6 weeks, where I'll probably cover. The chart has a few good gaps in it besides. In terms of the market overall, I believe a lot of what's powering the market currently is options related trading. Expiration is Friday. I went long with margin on primarily cyclicals at 3pm on election day but the past couple of days I've been selling my long positions and taking profits. I may leave some money on the table but 10,700 has been a high water mark a number of other times. Once the option holders have tied out their trades on Friday, the market could become weaker next week and I didn't want to stick around and find out.