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I find myself in the same camp.
Along that line, we now have little triple bottoms on all three indexes.
Has anyone noticed where VIX is now in relation to where it was on the
previous two times down here?
Bobh
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, August 12, 2001 5:37 PM
Subject: [RT] Markets
> Do I spy the great mother ship (and biggest of the big cap stocks) heading
> for a hard landing???????? Are there problems lurking in GE Finance?????
The
> weekly chart of GE suggests that the answer is yes. No wonder the guys on
> CNBC are working overtime to talk up the market, their options must be
> pretty deep in do do.
>
> Overall, my market horizon these days is a few hours. The basic technical
> work I do with counts, regression channels, and symmetry is all surrounded
> by mysticism. The market does not feel healthy and I suspect that if it
does
> manage to break above its range, it will get a sharp burst upward followed
> by an unbelievable hammering. More likely I think, is an event or news
which
> drives it downward out of this range.
>
> Perhaps most striking to me is the utter complacency and lack of fear
which
> exists among market participants ... if only one has faith and patience,
> Uncle Al will have everything fixed up and the good times will roll on for
> another decade. I don't think it's gonna happen folks which is why (aside
> from trading) I'm very content clipping coupons and thinking there might
> just be a bonanza in gains if Goldilocks gets a real haircut.
>
> Earl
>
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