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Maybe .. Bearish sentiment is rampant .. I posted the same thing a few
weeks ago .. that such commonality of sentiment scared the hell out of me
and it still does. Even the posts on this list that seem to support a
bullish sentiment always contain observations that it may not happen and
then make an even better case for a down turn. Until the shorts are driven
from cover and people begin to make a case for more up turn, I am not going
to trust in much of a drop. There are many ways to predict a market but
reverse sentiment is about as reliable as anything both in terms of history
and fundamentals.
Good luck next week to all of you,
Bob
At 01:27 PM 10/28/2001 -0500, you wrote:
>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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> > >
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> >
>
>
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