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I know that Carl is right.But being right is not enough. It also takes balls to go long at this time.But I hope you do have stops.Good luck, Carl!
This low is a great place for a long. This is a test of the Nov. low, usually at the least a dead cat bounce. Plus there was massive volume at the low with no further drop meaning there were just as many buyers saying "go ahead and sell , I'll buy all you have", with some initiated buying you could have many trapped shorts here who will get out (short covering rally), and if it doesn't materialize and comes back down, it will act as temp. resistance and allow you to cover longs. last time here we rallied for 200 pts.How many bulls who didn't buy then are thinking they wish they had and now have the opportunity. I see near term resistance at 758 to 762 area and a possible short area. Below 737 (where at lot of the longs place thier stops) is a free fall.
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