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Saturday, April 03, 2004

My thought here is to short any strength on monday. The prices were higher on friday and the McClellan Oscillator was lower. The exact opposite occurred before the recent big run-up. I'm not saying this is going to lead to a huge downmove. I don't think it will. But this could be an excellent short-term scalp for a few hundred. In on monday sometime and right back out on tuesday if all goes to plan. A couple OEX puts and then right back out after some profit. Will it work? Who knows? The overall pattern now is up, it's just a matter of how far up it will go. MSFT is looking stronger than GE at this point and I will buy some calls if it pulls back here. But the next trade will be an attempt at a scalp.

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