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Fred,
I will repeat some previous message for the last [and the most
serious ] attempt for N100 to change its bearish profile.
It was point X, when the market reacted, higher than expected,
with the bunch of MeanRSIt curves.
This was signalling a possible hope to see an end to this
era.
But, as you see the next months, the T1T2T3 line WAS NOT a
substantial support, it was violated twice, at Y [testing]
and [the most serious] at Z and it is moving down to previous
[and usual] levels.
If the market [ever] change, this family of curves will forget
to come below 50.
We shall be here to see that first and then change our
[bearish] techniques.
I have 20 similar indications, converging to the same result,
I could say they are enough but, it is a lie, I still search to
verify
this basic "truth" from more points.
This MeanRSIt behavior at X gave me enough evidence not to
sell [as my D-ratio said] CSCO at 13, but continue Long and
discover [with real trading] the nice channel 13-15-13-15-13-?
I have explained many times.
But, when I see curves coming back to the usual low levels, I
WILL NOT GO LONG AT $15, even if I read good CSCO news
like the one released today for the join venture with IBM. Did
you see any glorious +25% for this announcement ? Me neither.
We are not indicator victims, we are here to wonder every day
if we are right or wrong, the market is not a super-blind-system
and never will, as far as I know.
Dimitris Tsokakis
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