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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: FJV who wrote (20205)	8/4/1998 7:30:00 PM
From: Magnatizer	Respond to of 79227

Franco purely technical read. Fundamentally the market should not even be weakening IMO. But, as we all know so well, stocks and indexes trade on technicals. Very simple. I don't care what the tried and true fundamentalist believe. I do feel a look at a companies fundamentals is important for a long position but TA will get the entry and exit points which is where the money is made. The mid 7000 on the Dow are where an uptrend and magnet are sitting. Todays action sliced through the supports in the mid 8000s like butter. As I said in the previous post to this one, the target is not short term. Rather a slow bleed process. If we do get to the mid 7000s in a hurry I will be even more concerned. ht david