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What bull market?
Please be specific, record bull tech market. As far as I am concerned the
SP/NYA are already in bear markets until proven otherwise.
Friday/and early next week should be key confirming days for the Nasdaq. I
noted that the ND pulled back underneath 2/19 highs. Lets see if the
NDX/COMPX follows through or not. Sure, options expiry may cloud things, but
we will get confirmation within a couple sessions now... what I like about
the last couple of weeks is the Nasdaq with its movement is in show me mode.
We ought to know soon enough if things are pulling back.
I suspect they will, but my entry methodology gets me into the trade when
the market proves it, so I can be as hairy scary bearish in words all I want
and it doesn't cost me a dime!
But if my stop limit order is taken in tomorrow, I'll be making money...
Gotta love test of tops!
The trend is your friend until it ends or bends....
-----Original Message-----
From: Phil Lane [mailto:patterntrader@xxxxxxxxxx]
Sent: Thursday, February 17, 2000 11:06 AM
To: TradeWynne@xxxxxxx; omega-list@xxxxxxxxxx
Subject: Re: Which holds best promise?; Big Bear !
OK I admit it, I get a bad trade once in a while! But I'd have a lot more if
I ran my shorting stuff.
I'd worry more about how risky it is to attempt to short a record bull
market. Unless you're Livermore in 1929. What are the odds of that? Leading
stocks are still acting great, let's not kid ourselves.
rgds phil
http://www.patterntrader.com
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