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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (15383)5/30/1999 2:24:00 PM
From: James F. Hopkins  Read Replies (2) | Respond to of 99985
 
Lee; My call was shooting from the hip at the targets your very likely
to be closer than me, I didn't try to fine tune any thing as I'm
more into the NDX than the others, it's just that so many people
watch the DJI I use it in a ball park way to say we are headed
more in a direction than a particular point, and my old 10250
now looks sort of too conservative , but lets keep one thing
in mind I called that when sentiment
for 12000 was running high, and CNBC was beating the war drums
and parading out all the bulls after we crossed 11000..
It was called well before Velvet Jaws Spam gave out his little
cautionary note.
----------------

Jim



To: Lee Lichterman III who wrote (15383)6/1/1999 10:29:00 AM
From: Casaubon  Read Replies (2) | Respond to of 99985
 
It looks to me like the support is at 10,100 (you call it 10,050). This represents a 50% retrace of the advance since the beginning of the year. Unfortunately, that looks like a weak support to me. I believe it will blow through that level and find strong resistance at 9750.


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