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I whipped out my $2 calculator this morning for some simple calculations
(Mine is not as fancy as Norman's :-)) :
Naz all time intraday high = 5132.52
Yesterday's lowest low = 1922.78;
3209.74 (difference) / 5132.52 = 0.625
Furthermore,
Naz all time high CLOSE = 5048.62
Yesterday's CLOSE = 1923.38;
3125.24 (difference) / 5048.62 = 0.619
And today, despite widespread expectations of a "capitulation" down in the
1700-1800 area,
Naz didn't budge and actually managed to close above yesterday's high.
Now, if it doesn't close below yesterday's low for the next 2 ~ 3
days.................
Divine proportionately yours,
Levent
----- Original Message -----
From: "Norman Winski" <nwinski@xxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, March 13, 2001 1:45 PM
Subject: Re: [RT] Is the end near
> 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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