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James,
I agree with you, the market looks indecisive right now. I do think that
the techs will lead the S&P on the way back up, it's about time.
I do not agree with your second statement that this situation existed last
week. The S&P still looks very bearish, since it broke it's uptrend.
I think that we are going to see some excellent trading opportunities in
the high tech sector in the next couple of weeks. Looks like you might have
to trade some four-letter stocks.
The futures are down around four points right now. We will probably gap
down and then rally back following the tech stocks.
Good trades,
Shay Horowitz shay@xxxxxxxxxx
Zeus Investments, LLC.
13918 E. Mississippi Ave. http://www.zeus-holdings.com/
Suite 245
Aurora, CO 80012
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> From: James Charles <money4u@xxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: stocks:tomorrow
> Date: Sunday, December 21, 1997 10:10 PM
>
> Hi Guys,
>
> I don't have a strong feeling about the market tomorrow because:
>
> 1. MACD divergence and Friday's action are bullish. Furthermore, one
> wonders if the strength shown in the nasdaq will soon move the s&p.
> Considering the volume behind the down action, a blow-off may have
> occurred with a bullish reversal imminent.
>
> 2. But cci, dmi, and m/a's are still pointing to bearish price movement
> and stochastics have failed and are now pointing lower. Furthermore all
> of the elements in 1. above were present at the end of last week and
> still we had another down week. So without price confirmation, the
> trend is still down.
>
> ALSO, it looks like the tech stocks are more oversold and, being subject
> to more momentum, would lead the S&P in a reversal to the upside.
>
> What are your thoughts on the techs and the s&p?
>
> Best wishes,
>
> James
>
>
>
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