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Uk market is certainly consolidating.
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<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
BobR
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, October 12, 2001 11:00
AM
Subject: Re: [RT] sp500/nasdaq
Looking back over the last 7 trading days shows
this pattern, short covering, distribution, 3 days of consolidation, short
covering, distribution. Correct me if I have the definitions
wrong. In market profile theory, a distribution occurs when prices have
a tight symmetrical pattern following a run up like Thursday and
Wednesday and previously on 10/3 and 10/4. A consolidation implies a
pullback after a runup as on the 5th, 8th, 9th. If Thursday was infact a
distribution, then Friday and ??? would have consolidation,
perhaps.
bobr
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Ira Tunik
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Thursday, October 11, 2001 8:41
PM
Subject: Re: [RT] sp500/nasdaq
The question is will the die hard bears run for cover over
the week end? No pun intended. Will the bulls want to carry
stock over the week end? Did the hedge funds lose enough trying to
short this rally to back off for a while? Could all those puts be
protecting long stock? So many questions, so little time. The nice
thing about the market is that there are always two trades to look at one
upside and one downside. It is just a matter of which entry price is
hit first. Have a good week end. Ira.
profitok wrote:
Good EveningHope everyone had a great
trade today,,As for tomorrow,, Most probably
the NASDAQ will take a break and will not let the SP go
forward muchThe 10 day trin on NASDAQ is at a 34 day
hi and the p/c very bearish,,<FONT
size=-1>However,,this is just a temporary pull
backI see NASDAQ at least 6-8% higher from today's
close.the sp500 is about the same story,,Vix is
at a 34 day low and p/c is showing institutions loaded up on
puts today..this is ALSO just a temporary pull
back (1084.8 Dec futures),,and then up to the
races ,,Objective is
1160-1170Be carefulBen
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