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Dear Friends and Acquaintances,
I have been a member of RealTrader since it was sponsored/hosted by Kasanjian
Research. In those days, one was required to complete a questionnaire regarding
one's experience as a trader and familiarity with technical analysis in order to
apply for admittance. I thought I was lucky to get in to this esteemed group
based upon 20 years of amateur technical analysis. Perhaps the questionnaire was
a ruse and I was naive. Mr. Boggio may know. I do not. Regardless, I felt
privileged to be in your company.
Since then I have mostly just lurked to glean pearls of wisdom from the
experts. Occasionally I have posted with trepidation, given the paucity of
knowledge which I possess relative to that of the senior traders who have
frequented this group.
My imperfect memory tells me that shortly after September 11, 2001, the group
fell quiet – then in early 2002, posting activity re-emerged, but now as you all
know it has taken an obscure bent.
My fear is that the senior members of RealTrader, whose contributions are
most valued, may leave because of their disgust with: (i) the marginally topical
postings about 'self-improvement' or the 'enlightened way' to whatever, (ii) the
voluminous objections to those postings, and (iii) the infrequency of postings
with accepted relevance to the mission of RealTrader.
Therefore, dear friends, in the absence of a moderator, I propose that we
resolve, jointly and severally, to: (i) ignore and delete without comment any
post which does not meet the criteria set out in the RealTrader Objectives and
Policy Directives which Mr. Boggio kindly re-sent today, (ii) set our email to
refuse correspondence from those whose contributions we find objectionable, and
most importantly, (iii) return to posting our observations regarding the
markets.
To practice what I preach, I shall not comment further upon the
subject. Instead, I attach an update of my 3 year INDU chart of March 6,
2002, showing the consummated turn at the right hand apex of the presumed
diamond formation or the original bear resistance line which commenced on
January 14, 2000. Given the recent upside break-out from the 200 SMA of
several indices and the subsequent (or pending) return of those indices to
levels below their 200 SMA, I wonder if the exuberance of late is not simply a
Big Bear Trap. FWIW from a rank amateur.
Regards,
Tony Pylypuk
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