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In a message dated 10/19/02 5:06:19 PM Eastern Daylight Time, prosys@xxxxxxxxxxxxxxxx writes:
So, this is what you are saying ?(attached)
We could get back to the August highs then in a "C" wave move ?
This definitely has some merit. Frustrate the shorts, suck-in the longs.
What I'm refering to on the chart is that we are going to decline into the vicinity of 11/11. The strength and duration of that decline could tell alot of what will happen thereafter based on what cycles exist beyond that point. Because we have a cluster of 3cycle lows in close proximity, I would not be surprised if it's a strong move.
We have recieved some good earning news. It was a good reason for some buying...now that the market is propped up a bit, it's a good reason to sell...We'll see. It's a volitile market period.
We have however retraced over 50% of the move from 8/22 to 10/10.
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