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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (23583)	4/11/2007 7:29:09 PM
From: ACAN	Read Replies (1) \| Respond to of 23958

$SPX Are you looking at 1410 or lower?

To: Galirayo who wrote (23583)	4/12/2007 1:03:23 AM
From: skinowski	Respond to of 23958

Hi Ray! I see you guys are kicking butt... Good. I have not as much free time now... being unable to follow the action closely dictates a different approach. Did quite well with the rebound in energies, but - it seems - sold covered calls a little early. Unless there is a pullback, I'll be out of some - APA, XLE... As for SPX... Well, there appears to be a certain "wedginess" to the recovery since March lows, with some overlaps... so, it would seem that bears have an opportunity here. Otoh, the recovery was over 80% -- pretty strong. Short tem, the index today bounced off support. New lows would create new overlaps. As of last report, the Commercials were getting seriously long. Unless this will change sharply this week, that's a bullish sign. Looks like ~1408 is an important level at this time. If it doesn't hold, there may be a bit of a stampede for the exits.