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Re: Bottom of the Box: 12480ish

Hi kofeinitsa. I appreciate your comments and you may be entirely correct but I have a different theory. Today it was my belief that funds, specifically systems, reversed to buying. Based on the five cent theory, the systems became buyers around the 123.5 area. Of course, we have seen time and time again that profit taking takes place when systems reverse. If the OI is down then it is indeed short covering by systems and long liquidation by commercials and other longs. If the OI is up, then it is continued new selling by funds and new buying by other funds and other specs. If the OI is close to flat, then it’s new vs. old and we need to take a closer look. The end of the year approaching and different sectors may want to influence the market. However it is unlikely that any maneuvering will take place until later next week. Stay tuned.

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Bottom of the Box: 12480ish *PIC*
Re: Bottom of the Box: 12480ish
Re: Bottom of the Box: 12480ish
Re: Bottom of the Box: 12480ish