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Re: Zeev Hed post# 2231

Thursday, 07/11/2002 2:02:56 PM

Thursday, July 11, 2002 2:02:56 PM

Post# of 704041
What are your thoughts for remainder of day? Two options:

Option 1: S&P bounce from 900, Dow bounce from 8600 and Nasdaq bounce from 1320 support levels signifies the beginning of a rally. The indices gain strength throughout remainder of the day, finishing at HOD. Tomorrow brings continuation of rally.

Option 2: No real capitulation. Traders and hedge fund managers use the initial bounce off of support levels to unload stocks and re-initiate shorts prior to close. We finish last hour with a nasty selloff.

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