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well
said ....
<FONT face=Tahoma
size=2>-----Original Message-----From: BobsKC
[mailto:bobskc@xxxxxxxxxxxx]Sent: Saturday, October 13, 2001 4:18
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT] Gen -
distribution?I did a little shorting on Thursday at
the close and covered Friday mid-day .. I was ready to take another short
position or two at the close Friday but it's all just too neat.
Everyone agrees. Everyone. Be they chartists, star watchers,
fundamentalists or wave riders, they all agree we are headed to new lows
or at least a retest and we are going to do this right away. Such
consolidation of sentiment scares the hell out of me so I went into the
weekend mostly in cash. (One oil stock, one biomed, one gold issue
and 85% cash). Even after all my years of trading, I am
clueless right now and when I'm confused, I'm in cash. Why isn't DIS
$8 a share? Why isn't CCL $9 a share and how could it go up into
that mess on Friday? This old dude is going to have to watch for a
while count his chips until the hand becomes clearer.All best next
week folks,BobAt 04:00 PM 10/13/01 -0400, you
wrote:>The only thing is that divergence often leads to another higher
high... Also>time is involved.This thing could go even more.. Not
disagreeing with you>persay, it is difficult to model accumulation and
distribution, except on a>cumulative basis on each stock of the
index.>For the second week in a row, the futures were bought in the
dead period of>the day at near average price for the week, That looks
to me like people are>working it on the bullish side.>>It
might be that no one is selling for the moment.>>Don
Thompson>>----- Original Message ----->From: "BobR"
<bobrabcd@xxxxxxxxxxxxx>>To:
<realtraders@xxxxxxxxxxxxxxx>>Sent: Saturday, October 13, 2001
3:22 PM>Subject: [RT] Gen - distribution?>>> >
One argument for the notion that the last 7 trading days were more>
> distributive than accumulative is found in Ben's Profit Taking>
> Index(proprietary). The PTI configuration looks the same for the
OEX and> > NASDAQ even though all the data is totally
different. A sell divergence> > between the indexes and the
PTI's is seen on both charts.> >> > bobr>
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