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Just completed final third position of March 1150 Leap Puts. I don't
expect that there are more than a few points of gas left in this tank ...
perhaps a run to long term open targets clustering around 1078+- but not much
more. Look at last three rallies on daily chart and you will see that each rally
was contained at 127% retracement of previous decline.
Earl
<BLOCKQUOTE
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----- Original Message -----
<DIV
>From:
EarlA
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx ; <A
title=canslim@xxxxxxxxxxxxxxxxxx
href="">canslim@xxxxxxxxxxxxxxxxxx
Sent: Friday, November 14, 2003 7:22
AM
Subject: Re: [RT] The Market
environment
I'm still looking for price to hit my long term cluster of
targets around 1078 and am working order to complete my put position. Market
never does what is expected, but my best guess is that we'll see a sharp spike
high during which SP futures inventory will move from weak bears to strong
bears. Market should then drop pretty sharply to something in range of 50%
retracement March-November.
Earl
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