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Ira,
In line with your note below, as of last night's numbers, my option stat
based NOW index has flashed its first buy alert in several months. At short
to intermediate turns, this is usually accurate within one trading day.
However, at major turns, it may take several alerts over several days or
weeks, which indicate a larger turn. Bottomline, given the very bearish
sentiment and the fact that there is still some downside time and price
potential left, I think it is now very dangerous to be either long or short
market for the next several days.
Cautiously,
Norman
----- Original Message -----
From: "Ira Tunik" <irat@xxxxxxxxx>
To: "realtraders" <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, March 13, 2001 1:19 PM
Subject: [RT] Is the end near
> Well! this morning the local papers front page had nothing but market
> news. One employee of CSCO has lost $650,000 in the market crash.
> Another with a warped idea that you haven't lost anything unless you
> panic and sell. The official announcement that we are in a bear market
> because the S&P is finally down the required 20% and that 439 of the 500
> stocks were down yesterday. Everyone who has lost money seems to blame
> Greenspan. The classic, it has to be someone else's fault, it couldn't
> be me. The only thing left is for the bear to appear on the over of one
> of the major magazines to bring on the end of the bear. have a good
> week. Ira.
>
>
>
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>
>
>
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>
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