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Hi Ira,
At the risk of sounding like a sycophant, all I can say is ......simply
marvellous. Guess all one needs is, to have the right perspective and
trade successfully.
Respectfully
Rakesh Sahgal
At 01:50 PM 3/29/01 -0800, you wrote:
Who is to say whether this is a
bull or bear market. If losing money
means it is a bear market, there are some people who have spent
their
whole lives in a bear market. If it is by definition a given
percentage
of gain or loss then some markets are in a bear market and others
are
not. If you go sector by sector some are in major bull markets and
some
in bear markets. CSCO has lost market value from its high of over
$480
Billion dollars. With that kind of money you could buy both INTC
and
SUNW at their present stock price and not only own them free and
clear,
but have some change left. Everything has its own
perspective. In
trading stocks or futures a 50% retracement is just that, not a
bear
market in the underlying. Those of you that use fib numbers look at
a
retracement of 61% +/- a buying opportunity, not a bear
market. The
key is, do you have a tradable market. One with sufficient
volatility
to make a living either buying long or selling short. Looking at
these
charts the S&P futures can go down to 8800 and still be in an
uptrend
and have undergone a normal retracement and the INDU can move down
to
6700. A bear market is one where the stocks or futures you are long
are
going down and the ones that you are short are going up, and a bull
market is one in which the stocks or futures that you are long are
going
up and the ones that you are short are going down. You see,
the only
chart that really tells you whether it is a bull or bear market is
your
equity chart. Have a good week end. Ira.
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Rakesh
Sahgal
C
-165(1st Floor), Greater Kailash - I,
New
Delhi - 110 048
India.
Tel.:
91-11-647-6462,91-11-643-0010
eMail: rsahgal@xxxxxxxx
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