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Getting a feel of the market can be likened to smelling a Bear in the dark
out side your tent. The degree the ground shakes may give you an idea of how
serious your problem is and just how big that critter might be. Volume may
predict size. But he is still not upon us. If and just what if, we get a
large gap down with 2 days HARD DOWN followed by a 50%retacement that fails
and then make a new low with lackluster positive divergence's. NASD gets
slammed etc. Margin calls come and the snow ball grows. Brave technical
buyers catch the falling knife only to have positions turn south and cut
losses, The public (weak hands} join in with Money Managers in the rush to
raise cash, long term holders decide some gain is better than a loose only a
few days away at current rate. Bids are few and all are sitting on their
hands, Just getting them burnt. Now I'm not predicting and 87 style market
thought it could happen. What I am suspecting is a downward move with many
short and rotational 2-3 day failing rally attempts not unlike 2 days last
week. Why, I suspect those that have some control over markets perceive some
degree of gradualism politically correct and in the investment communities
best interest. Oh well, we have to wait and see how it all plays out. And I
apologize for hanging so much crepe, kinda sounds like a postmortem in
Baron's... And Thanks for all the constructive input from the list Tom
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