|
PureBytes Links
Trading Reference Links
|
I think you misread what the message said. I stated that I had no opinion
for one thing. Neither bullish nor bearish. If you had also read about the
Gann move you would realize that if the market rallies 2000 points then the
move down would still only be 3000 points or a 1000 below where we are. The
post also stated that one should trade with no opinion, so where you got the
idea that I had one either bearish or bullish I find hard to fathom. Re
read what I posted. Ira.
----- Original Message -----
From: "BobsKC" <bobskc@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, August 10, 2002 10:01 AM
Subject: Re: [RT] Dow 4000
> It will take more than charts and principals and theories to bring this
> about Ira. It's going to take some fundamentals that are not seen as
> yet. There is no where for money to go other than a tin can in the back
> yard at this point so people are not going to continue to opt out of the
> market for something better unless that better is just preservation of
> capital and the mind set is so strong now that you have to ride out the
> storms that I'm not sure the public can be flushed to any high percentage.
>
> Fundamentally, I see no reason whatever for such a drop. The NAS was a
> giant bubble which has now lost 80% of its air. The S&P was never even
> remotely as over bought and has now retreated into the area of true value
> based on common sense. 80% of our companies are meeting or beating their
> greatly reduced earnings expectations.
>
> I'm not saying you're wrong of course but I contest that there will be an
> event or series of events required to bring it about and not just historic
> numbers. Seeing you leaning so heavily in this direction gives me
somewhat
> of a boast toward believing a bottom is in. I have much respect for you
> and if you're so sure of one direction without offering alternatives, well
> Ira, you may just be my new contrary indicator. hehe
>
> Anyway, 3000 up then 6000 down or just 3000 down all adds up to high
> volatility for traders and good money to be made.
>
> Good trading next week everyone,
>
> Bob
>
>
> At 08:26 AM 8/10/2002 -0700, you wrote:
> >I am neither bullish or bearing most of the time. It is difficult to
trade=
> > properly if you have an opinion. Some times the simplest things are
the b=
> >est. A simple trend line or a tenet by some guru. In this case Gann and
h=
> >is famous AB=3DCD. Price in the Dow stopped here because it was supposed
t=
> >o if that rule has a basis in fact. Now comes the retracement. If this
br=
> >eaks south again there is a possible 3500 point move if AB=3DCD for the
nex=
> >t move. The funny thing is that right now there is the possibility for a
3=
> >000 point move to the up side which wouldn't void this downward spiral.
Al=
> >l stocks won't go to zero even though many stocks which were $100 +
stocks =
> >a year or two ago are trading for pennies. So keep a clear head and
don't =
> >let bias warp your trading judgment. Ira.
> >
> >
> >WARNING: The remainder of this message has not been transferred.
> >The estimated size of this message is 50310 bytes.
> >Click on the Retrieve From Server icon above and check mail again to get
> >the whole thing. (If you're reading this in the preview pane, you'll need
> >to open the message to see the icon.) If the Retrieve From Server icon
is
> >not showing, then this message is no longer on the server.
>
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
------------------------ Yahoo! Groups Sponsor ---------------------~-->
4 DVDs Free +s&p Join Now
http://us.click.yahoo.com/pt6YBB/NXiEAA/Ey.GAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|