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Post Xmas Stress Disorder

Posted by maineman, Dec 25 2007, 11:17 PM

Its more of the same good news-bad news... The key, IMHO, is breadth, which continues to improve:
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the weekly picture is "positive" in that there are now 2 closes above the 21wma and the ROC 5 remains positive:
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And the daily continues to show the mixed bag of positive price with lagging key MAs. Price is above the EMA 10, but the 10 remains below the EMA 55. THis can change quickly. If the market is strong, these EMAs should flip soon, but remember, we play what we see, not what we wish we're seeing....
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Bottom line? Still long, taking advantage of adding to longs on swoons, trade management in place. If the market is "ok" we should continue with an upward bias... if we do, great. If not, we're stopped out and reconsider what it all means if/when it happens. I would not be surprised by lower volume and volatility until the end of the year. Good trading to all

mm



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