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I agree the next leg down ... there will be no place to hide... The DJIA
will most probably be taken down harder than NAZ.... To get the real idea of
where NDX is at take a look at monthly chart symmetry would suggest that
if a rally ended Fri. with the sharp reversal as suspected, then that high
would be equal to monthly high of 7/31/98 1485.97. As stated before...
with US$ turning down it's the foreign sellers that we have to worry
about.... The U.S. investors have shown resolute and won't capitulate until
Sept. lows are taken out most probably....... Have a great week
trading............ Dorothy
----- Original Message -----
From: "Rakesh Sahgal" <r_sahgal@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, October 28, 2001 1:00 PM
Subject: Re: [RT] Case for the bulls-Maybe there is a case for both the
bulls and the bears?
> Am attaching two charts using Clyde's adaptive stoch indicator on the
D/W/M
> time frames. Seems that the tech bust is almost finished and as Earl had
> suggested a while back the "REAL" economy stocks in the DJI are the ones
in
> serious trouble now.
>
> Rakesh
>
> At 09:34 AM 10/28/01 -0800, you wrote:
> >Hi All,
> >
> >IMHO, speaking only to the NDX, the bears are quietly, slowly
> >being squeezed hard. Unless some serious exogenous (external)
> >event occurs they seem about to have their heads handed to
> >them. Anthrax news has not been even nearly strong enough to
> >stop this. 5 min NASDAQ adv/decl volume bars have been clearly
> >bullish for a couple weeks. Additional support comes from the
> >bears quietly changing their retest the lows in October
> >prognostications to retest the lows in November/December. I'm not
> >saying the long term downtrend has changed, nothing's different,
> >bearishness seems justified.
> >
> >But, unless I had a solidly profitable short position or just
> >went short in the last few days with a close stop, I would be
> >losing sleep now.
> >
> >Maybe I'm wrong. This market has shown the absolute minimum of
> >bullishness possible every step of the way this year. But that's
> >the beauty of day trading NDX futures. It means never having to
> >care which way the market goes so long as it moves 8-).
> >
> >regards,
> >
> >tbr
> >
> >_________________________________________________________
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