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earl wrote:
>>> I suspect they have already covered and are busy getting long. But then I
>don't really care as long as the spoo goes up and down or down and up. <<<
Merrill was scaling down from 70 to 60 while locals were shorting heavily.
Merrill ended up long 1000+ cars and the locals got caught short. Boom...a
nice rally to cap the selling for now. BTW, Bob Pretcher's Dow Targets
are 3675, 2365, and maybe 500, FWIW.
When in doubt, go with the money flow. Forecasters and gurus end up on
CNBC. But traders go to the bank day after day after day...
-Tony Haas
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