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Ira - that upside
is close to 11,000... !!! ...which is near BUBBLE CONDITIONS OF 3 YEARS
AGO.....
meaning: this
market would be discounting the best of the best of the best for this
economy.....
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AND....if it
doesn't happen, look-out-below !
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<FONT face=Tahoma
size=2>-----Original Message-----From: Ira
[mailto:mr.ira@xxxxxxxxxxxxx]Sent: Monday, August 18, 2003 5:19
PMTo: real tradersSubject: [RT] 6000
Dow
There was a comment in a post about those that
pronounced a 6000 Dow. I announced a 7367 Dow which was hit and a 6976
Dow which wasn't hit. As far as my system goes we are in a downtrend
until 10,640 is taken out and this is on a weekly chart. Does that mean
that I hold that position until I lose 3000 points? That is a ridiculous
assumption. This is a traders forum and to ignore the possibility of a
3000 point retracement is ludicrice.
The Dow signaled a buy at 7879 on March 14th and
the retracement was underway. I currently show a target at 10,825 with
resistance at about 9500 and 9900. Are these numbers written in
stone? No, there are always conditions that arise that will change
things in the short term. So if I am long going to 10,825, I will exit
at 10,6409 and let price prove to me that the downside is over. There is
always the next leg up or down to trade.
Ira.To
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