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Yes, it is now bad news is good news time ... do not expect it to last
forever. If it is sense you seek, seek cash. This market is for traders
only, is dangerous as hell, and assets which one can not afford to lose
should not be put at risk.
Earl
----- Original Message -----
From: "M. Simms" <prosys@xxxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, August 20, 2002 5:19 PM
Subject: RE: [RT] Support-perverse mode
> Most amazing has been how well the Nasdaq and techs have held up
today.....
> even the internets are coming back to life......
> in the face of low (no ?) growth prospects for both earnings and sales.
>
> Warning: The market is moving into "perverse mode".....where logic is
> nowhere to be found....
> Crude bumps up against $30 today....and OSX and OIX indices fall....hard.
> That makes sense, right ?
>
> -----Original Message-----
> From: Rhonda Guilbeaux [mailto:guilbear@xxxxxxxxxxxxx]
> Sent: Tuesday, August 20, 2002 2:17 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] Support
>
>
> Thanks Earl. I think it also depends on if price goes back above 939
> sustained and not back below into the
> close. Either way, this pullback looks healthy
> in my viewpoint even if we do go on to test 927 area. I think it should
> provide good support
> also if the low for this leg down hasn't
> been made yet.
> Rhonda
>
>
>
>
> ----- Original Message -----
> From: Earl Adamy
> To: Realtraders
> Sent: Tuesday, August 20, 2002 12:22 PM
> Subject: Re: [RT] Support
>
>
> My work generally agrees with yours ... perfect ABC (C=100%A) at 927
and
> an
> important pivot low at 926.75. So far, price has been holding C=62%
and
> if
> it continues to hold through lunch, I would expect a strong move up to
> resistance in the 965+- area today. Otherwise, as long as the 927 area
> holds, we may not see another leg up until Wednesday.
>
> Earl
>
> ----- Original Message -----
> From: "Rhonda Guilbeaux" <guilbear@xxxxxxxxxxxxx>
> To: "Realtraders@xxxxxxxxxxxxxxx" <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, August 20, 2002 10:25 AM
> Subject: [RT] Support
>
>
> If the intraday lows are broken going
> into the afternoon; then looking to see how
> support holds in this price area.
>
> If the intraday lows hold, then may
> not test it. So far consolidating
> near the lows of the day.
> best,
> Rhonda
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