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03/03/08 2:55 AM

#16694 RE: Old Timer #16692

For the short term, IMO, today is very critical.

An upward movement will bring in buying with many averaging up and new investors not wanting to miss out. This, in turn, will give the MM's confidence to take larger positions, building their inventories.

A down day will cause selling by those protecting their profits of the last move up and those that have been averaging up selling to prevent "riding a winner to a loser". The MM's will want no inventory.

IMO.