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Tuesday, April 20, 2004

About 10 minutes to go, market selling off on Big Als comments. Down around 90 points now. Greenspan is telegraphing higher interest rates to come with his comments on inflation and pricing power. He speaks again tomorrow. Oh Almighty Al. Moving closer to an oversold level on an intermediate term basis. Possibly getting close to a time to buy calls. A lower low on the OEX and a higher low on the McClellan Oscillator might be a trigger. Sitting out could be a good idea too. However when this thing is blown out to the downside, at least a bounce is worth a shot. I'm thinking now that the sharp rally after the March expiration was a snapback to the uptrend line that was broken. Meaning lower prices from here on out. But who knows? Summation Index still pointing down, that thing has worked. I'll have to check the charts later. Market still selling off hard into the close. Down over 100 points. See ya tomorrow...

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