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I don't buy the DJIA..... sooooooo... but it is the easiest to manipulate..
to force S & P traders who are short to cover..... I'm short PSFT EBAY
both are down today... some of the others I'm short from months ago are
enjoying a bounce today... such is life.... rally feels belabored to me...
I would suggest that SPX won't get above 1038.77 ... if it does then this
rally is stronger than I would guess at this time.. :-)
----- Original Message -----
From: "Ralph Volpe" <rjv@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, September 28, 2001 12:32 PM
Subject: Re: [RT] INDU
> Dorothy, I hope you aren't right, but you do raise some valid points.
Also, I
> don't know if you can choose one index to arrive at some conclusion. You
pointed
> out that you're looking at the NDX because it has more issues involved;
well,
> how about the NYA or SPX, which both have more issues involved. If you
look at
> the NYA, the pattern you're referring to isn't that apparant.
>
> Well, we still have 3 /12 hours for my target of +170 on the Dow; however,
to
> punch through resistance, which was support only a few days ago, it has to
be on
> heavy volume to assure its validity. You are right on target concerning
volume;
> the volume is low, and it's a major concern of mine.
>
>
> Ralph
>
>
> Dorothy Carter wrote:
>
> > I think we are still in window for peak for end of the counter trend
> > rally... Remember DJIA is 30 stocks check out NDX .. I'm not an expert
in
> > Candle sticks .. someone else may want to respond.. but it made a big
spike
> > and is in lower section of range which may suggest exhaustion of this
short
> > cover, end of qtr rebalancing...??. I have lower targets that have not
been
> > met yet.. and also we went down on big vol and have rallied back on
lighter
> > vol which in my work is a sell signal not a buy... obviously you have to
> > look at each stock separately so guess it depends on what you are buying
> > indexes or individual stocks.. personally I'm using any rally to
> > short.............Guess we'll see toward close who wants to go home long
> > given a weekend . I have gone over all 30 Dow Jones stocks the last 3
days
> > and have only found 2-3 that had potentially constructive charts.. and
those
> > had limited upside potential... so
> >
> > ----- Original Message -----
> > From: "Ralph Volpe" <rjv@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Friday, September 28, 2001 11:39 AM
> > Subject: [RT] INDU
> >
> > > The Dow Industrials are struggling towards my goal today of +170
points.
> > > If achieved, the INDU reenters its previous trading pattern. This
would
> > > add to the probability of higher prices and lessen the chances of
> > > further dramatic drops. As this is being written, the Dow needs 10
more
> > > points for the day. Wow, what a struggle!
> > >
> > > Dorothy and others, are there any opinions and forecasts?
> > >
> > > --
> > > Ralph => E-mail => rjv@xxxxxxxxxx
> > >
> > >
> > >
> > >
> > > To unsubscribe from this group, send an email to:
> > > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> > >
> > >
> > >
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http://docs.yahoo.com/info/terms/
> > >
> >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
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>
> --
> Ralph => E-mail => rjv@xxxxxxxxxx
>
>
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
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