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<DIV><EM><FONT size=2>CSCO trendlines give the exact picture of the UP orDOWN
dilemma for the next week(s).</FONT></EM></DIV>
<DIV><EM><FONT size=2>We shall see a breakout, in one way or another, since the
triangle formation came cautiously to an natural end. </FONT></EM></DIV>
<DIV><EM><FONT size=2>Market Direction indicators have already reached sharply
to a first peak [MACDBULL turned to 95% after two </FONT></EM></DIV>
<DIV><EM><FONT size=2>days at 96%] .</FONT></EM></DIV>
<DIV><EM><FONT size=2>We are in front of the most difficult T/A question,the
continuation of the bullish reaction.</FONT></EM></DIV>
<DIV><EM><FONT size=2>The market leaders have already announced the 3Q
results.</FONT></EM></DIV>
<DIV><EM><FONT size=2>The trend makers did not leave any room for delayed
action, when they pushed some stocks to a +10% gap up.</FONT></EM></DIV>
<DIV><FONT size=2><EM>[Many Short positions were not that profitable the last
ten days and they were covered with significant losses]</EM></FONT></DIV>
<DIV><EM><FONT size=2>Now they need the trend followers to keep on buyinghigher
and higher.</FONT></EM></DIV>
<DIV><EM><FONT size=2>Are these followers convinced to do that
?</FONT></EM></DIV>
<DIV><EM><FONT size=2>Medium volume traders who did not buy IBM from $65 [Sept
19] to $55 [Oct 9], 15 full trading sessions, are forced now to buy above
$75 !!! It sounds a bit absurd...</FONT></EM></DIV>
<DIV><EM><FONT size=2>Is there any realistic perspective for such a delayed
enthusiasm ?</FONT></EM></DIV>
<DIV><EM><FONT size=2>3 IBM gap ups +8%, +7% and +10% in 5 trading days is a
bullish shock if you are out of the stock activities.</FONT></EM></DIV>
<DIV><EM><FONT size=2>T/A available tools for continuation are veryfew
and not well organised.</FONT></EM></DIV>
<DIV><EM><FONT size=2>Any ideas to improve this sensitive area
?</FONT></EM></DIV>
<DIV><FONT size=2><EM>Dimitris Tsokakis</EM></FONT></DIV></BODY></HTML>
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