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Ira-,
To borrow a saying from an old brokerage firm advertisement, when XYZ
brokerage (Greenspan) talks . . . people (markets) listen.
He said today what people (markets) wanted to hear, so yes the bull may be
able to be lifted off its knees so to speak or a bear market rally perhaps.
The question is what happens when his attempts to control things no longer
work? What I heard today was if the "markets" are in trouble (which it
appears they may be or maybe have been) the Fed will not make the same
mistake Japan did after its bubble burst. What we may be in store for is
controlled releases of air from a balloon? Sideways for a while is also
a possibility as the markets "catch up"? It does not have to be either up or
down. Anyway some thoughts.
don ewers
----- Original Message -----
From: "Ira Tunik" <ist@xxxxxx>
To: "realtraders" <realtraders@xxxxxxxxxxx>
Sent: Tuesday, December 05, 2000 10:53 AM
Subject: [RT] Dow
> Could we have a split market between the Dow and the Nasdaq? If the
> Dow breaks out above this area we could be looking at targets of 11,600,
> 13,300 and 14,000 all +/- a little, or is this just another bear market
> rally? Is tax selling over with? Looking at stocks like XRX I would
> have to say no. If you are a trader you can't afford to be bearish or
> bullish. You always have to look at what it will take to move price in
> the other direction. What in your system will tell you that price will
> move up instead of down and vise versa. When do you drop to lower time
> frames for a better picture and when do you move to higher time frames
> to get a better overall look. The Nasdaq has come within striking range
> of my downside target. Is a new bull market in the offing? I can't
> tell you, only the evaluation of the charts and price will tell that.
> The point that I am trying to make is don't become myopic. Always look
> in both directions. It is amazing how the view changes. I have attached
> a weekly chart of the Indu. Does this look bearish to you? Just
> another view. Have a profitable week. Ira.
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxx
>
>
>
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