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Sorry for the double posting.
I remember in 1987 when the market makers had the same attitude some of
you currently have. After the drop on Friday, they covered their
shorts, the ones that were short, because they figured it was a bottom.
Some sold overvalued puts, others bought calls that were going to take
them to summer homes on Costa Del Sol. Then Monday Came. Bingo. No
Costa Del Sol, No Money, and huge debts. It doesn't pay to try and out
guess the market. Let it tell you what it is going to do. I also have
support at 10,300 and a longer target at 10,100. But I will trade what
I see not what I think might happen. Trying to front run the market can
get you run over badly. Ira.
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