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Howard,
Well I certainly am, particularly since now that the market has a higher low
in place, on its own (supposededly).
Since they don't like to stop a falling knife this is a more likely area for
their "maximum effect". They do like to boost it through daily trendlines.
Check out October 15, 1998's surprise cut which pushed it back above an
already broken H&S top neckline and the subsequent return to it, a natural
place to get short (which I did at 1034.50 as I recall and was later that
day handed my head on a platter for my biggest ever SP loss despite a stop
4H above my entry 1038.50 (fill was 1053) . . . ouch, now that was a lesson.
Some said they saw it coming after the fact, I have my doubts, it was a
textbook sell area (and Rubin/Greenspan new it) . . they have charts too
and seek input one would surmise.
Since we have moved above a down trendline from April, hmmmm, could get
scarey if they decide to move.
Fool me once . . . shame on you, fool me twice . . .
Then again it could just be the institutions churning the market to put
something up on the board and the jury is out on this whole thing,
valuations are still rich?
don ewers
----- Original Message -----
From: "Howard Hopkins" <hehohop@xxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, August 01, 2001 2:23 PM
Subject: Re: [RT] S & P
> It seems to me that 'they' are bidding the market up in mornings on all
this
> bad economic news... maybe hoping for the fed to step in with a surprise
> rate cut. By noon or one they give up.
>
> Is anyone else besides me a little nervous about shorting this market due
to
> possible fed intervention?
>
> Just a thought,
> Howard
>
>
> >From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> >Reply-To: realtraders@xxxxxxxxxxxxxxx
> >To: <realtraders@xxxxxxxxxxxxxxx>
> >Subject: Re: [RT] S & P
> >Date: Wed, 1 Aug 2001 11:21:33 -0600
> >
> >gut says we are topping 2750 or else 1231-34 but chart looks bullish. i
> >dont
> >know if im fighting the market or gut is right ... still flat
> >
> >----- Original Message -----
> >From: <schnake1@xxxxxxxxxxxx>
> >To: <realtraders@xxxxxxxxxxxxxxx>
> >Sent: Wednesday, August 01, 2001 10:34 AM
> >Subject: [RT] S & P
> >
> >
> > > Does anyone think we're looking at a fairly significant double top
> > > here at 122750? ( 15 min & 60 min chart)
> > >
> > >
> > >
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> > >
> > >
> > >
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> > >
> > >
> > >
> >
>
>
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