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If you are right short term that it can extend
the move into next week... Looking at symmetry it would appear that the upside
would be limited and that what ever high level chop we may mark out would
possibly be making a right shoulder for an eventual down...... Personally, If we
continue to rally on lite volume I can't get excited for the bullish
case....
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Ralph Volpe
To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";
title=realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, September 28, 2001 5:29
PM
Subject: [RT] INDU
Well, as I expected, the Dow Industrials finished right on on
line that most traders would call resistance, but to me it's support because
with the monthly bar, it never really closed below that line. This is why I'm
confident that from next week on there will be a bias to the upside. Ahh,
now wouldn't it be nice for the few of us longs if this would actually come to
fruition.
As I'm writing this an analyst is on radio discussing why this will be a
really a mild recession. He pointed out that several important factors are
coming together to add steam to this market and move it higher. He discussed
the low interest rates with probably more to come, how the Fed is flooding the
markets with cash, and the big drop in oil prices that will cut the costs for
many individuals and companies. Now, if the market had ears and eyes to read
this, maybe I can be right for a change.
Ralph
-- Ralph
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