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Friday, January 20, 2006

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Covering Some of Our Shorts 1-20-06

Good Afternoon.

Covering some of our shorts that we averaged into around NASDAQ 2292. Our net long posture is now about 50%. Traders are nearing an important juncture around the NASDAQ 2270ish level. Dip buyers need to save this market around these levels for one final retest of the highs or the Bears are going to take control. Push come to shove, we think the Bulls have one more rally in them. However, we have tight stops and will likely significantly reduce our net long exposure around 2260.

We'll be back later…

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posted by Kleiner Capital Management, LLC. | 11:53 AM



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