Profunds index and sector trading

[was Steve]

Don Sew spits out an update
steve

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Market Swing Discussion: Chat Room Notes and Recaps
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Posted by Nikko_thyme on Wednesday, May 21, 2003 - 10:58 pm:

Chat Notes: Wed 5/21/03 10:00 PM

Weekly Signals :

GOLD CLASS 1 SELL

Daily Signals :

DOW, SPX, OEX, RUT : LOWER MIDRANGE/OVERSOLD

NAZ, NDX, SOX : OVERSOLD (Today had intraday borderline CLASS 1 BUY.)

HUI, GOLD : CLASS 1 SELL (Don is not expecting a large move down for
GOLD.)

USD : LOWER MIDRANGE

Don is using the SPX as a proxy, and it would require 1-2 more down
days to reach the daily CLASS 1 BUY area. At that point, Don is not
expecting a large move up.

Don considers this Tsunami a late responder, it cannot be negated from
here.

He is still holding a 90% short position, which he may reduce if the
market continues to move lower because it is such a large position.