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I have to share Ron's skepticism, but in the meantime I also have to follow
the cumulative volume and price trend. Both of which seem to suggest we are
in the middle of that old fashioned summer rally that has its roots at the
end of May. Both the Nasdaq CV and NYA CV tested and are coming off of that
classic 21 day XMA with price targets at the 0.5 and .618 levels next.
BobR
----- Original Message -----
From: "Ronald McEwan" <rmac@xxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, July 12, 2000 7:35 PM
Subject: [RT] Gen:Nasdaq Cot
> The attached gif depicts the Nasdaq weekly closing prices with a plot of
> the Commitment of Traders data on top. I leave the interpretation of this
> up to you. I will say, that I expect the CNBC talking heads to be full of
> great reasons for buying all the Nasdaq stocks their friends at the big
> Wall Street firms are looking to unload on the public. (After all when
> was the last time you took one of them out to dinner!) Just my opinion.
>
> disclaimer stuff:
> this is not a trading recommendation.
> for informational purpose's only.
Attachment Converted: "f:\eudora\attach\CV32.gif"
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