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Bob et al,
My answer is that it depends on your view of the trend. After the large
break in the Spoos and Doos I see the market as being in a non-trending
congestion phase. Until new highs/lows are forthcoming I wont see the trend
as up or down. Many traders trade the swings of a congestion pattern with
various swing indicators such as momentum. Exactly how or what I'm trading
I consider my business. Good trading.
Brent
----------
> From: bobskc@xxxxxxxxxxxx
> To: brente@xxxxxxxxxxxx; RealTraders Discussion Group
<realtraders@xxxxxxxxxxxxxx>
> Subject: Re: Dow: Bearish confirmations comming in.
> Date: Wednesday, October 21, 1998 11:00 PM
>
> One comment to the below. The trend is your friend and bucking this one
> may leave you hollering uncle. Why not just let it turn and jump on and
in
> the mean time, enjoy the northward slant?
>
> Bob
>
> At 10:13 PM 10/21/98 -0600, BrentinUtahsDixie wrote:
> >Group,
> >
> >I'm venturing out on that limb again just to see if I have the guts. I
hear
> >your chain saws running but here goes. Now that divergences are
confirmed
> >this looks like another sore thumb to me(after 5 years you begin to
trust
> >what you see). If this breaks down we may visit the 6000's. Have fun.
> >
> >Brent
> >
> >Note: This is not a recommendation to buy or sell anything. Trade at
your
> >own risk.
> >
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