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Assuming that the W bullish configuration is
completed and a breakout above the W occurs, the time frame involved in the
formation of this particular W is to small IMO to conclude that this
would be THE BOTTOM of this BEAR .It would be bullish short term and
the current rally that will have completed the W would very likely
continue on to higher levels.However, at this point all we have is a double
bottom with the possibility that the W will be completed. In this market I have
seen too many double and triple bottoms turning into whipsaws.Better to
participate with the market activity than to take action on what we
anticipate. The rewards are much greater if we anticipate correctly but the
risks are just as great and probably greater.
Dom
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=H.Albizem@xxxxxxxxxxxxxxxx
href="mailto:H.Albizem@xxxxxxxxxxxxxxxx";>Haytham Albizem
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, March 30, 2001 7:03
PM
Subject: [RT] NASDAQ bottom
Hi to all,
It will be interesting to see how NASDAQ composite index
behave the next few trading days. As you can see from the attached GIF, NASDAQ
is forming what appear to be so far double bottom "W"(need confirmation).
HaythamTo
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