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I apologize Ira. I have an excuse but still ..
I've only been home from 5 bypass, open heart surgery for 6 days and
evidently, my mind is not totally grasping what I read. And to think, I'm
actually better than when I got home. :)
Sorry,,,,
Bob
At 01:38 PM 8/10/2002 -0700, you wrote:
>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.
> > >
> > >
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> >
> >
> >
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> >
> >
> >
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> >
> >
>
>
>
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>
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