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Don, thanks for the info. As for things going my way, I ALMOST sold earlier when
cuts in the interest rates were announced and the market got a little shaky. The
market appeared to have ears on this board as some suggested there would be
selling on the news. However, I held my positions. With an additional interest
rate cut possible next month, the economy has to start gaining momentum to
solidly reverse the plunge in stock prices. By the way, there was other good
news that wasn't featured; e.g., some stocks announced bad earnings at the close
yesterday and still moved higher today. This could be a solid signal that
selling pressures are diminishing. Besides, the Dow anchored itself more solidly
in the monthly pattern I posted several days ago. When the Dow broke that
pattern on the downside but didn't close below it on a monthly bar, I think that
was a setup for a Bear trap. Lots of sell orders kicked in and I'm convinced the
smart money was buying. But, as Dorothy noted yesterday, the market humbles us
all.
Ralph
Don Ewers wrote:
>
> Things could be going your way Ralph? . . . will keep you posted on what the
> charts are saying.
> don ewers
>
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