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IRA: While I expect a rally into Nov 1, NDX has given the following
downside targets:
1137.25 787.08 .......... Pls explain why I forgot about
translation????? Best, Dorothy
----- Original Message -----
From: "Ira Tunik" <irat@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, October 28, 2001 11:08 PM
Subject: Re: [RT] Case for the bulls-Maybe there is a case for both the
bulls and the bears?
> You talk about symmetry and forget about translation.
>
> "Dorothy K. Carter" 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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