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>>> thegirlisherenow@xxxxxxxxx 01/27/03 04:53PM >>>
okay, it's a wrap...will support hold? two guys I respect a lot [larry
pesavento and bob carver] are both very bullish as of today...while I am
not sold yet, I have to concede that this game is always full of
surprises. a final thrust up would likely catch the most traders with
their pants down...and that being the biggest joke the mkt likes to
play, it could very well happen. but first things first...in spite of
all the super-duper techniques we have to forecast direction, price
always has the final word...and what it's saying right now is not
decisive, either way...teetering on the precipice as it is.
the attached chart shows my bottom-line litmus test and it is a simple
one...a swing low printed on the hourly chart today (actually printed in
the first hour and then dropped lower still as the day progressed!) must
be confirmed...and it ain't happened yet! I want to see the RSI
up--straight as an arrow--to convince me that we really have this swing
low in place. it simply does not fail if we're gonna get more that a
25-30 pt move.....which is fine, but I'm not daytrading right now so I'm
personally looking for a more sustainable move.
a final note: the mkt has been reacting to war drums for the past 2
weeks...even if GW says he's going in personally to off sadam, we could
get a small relief rally this week, just because the tension will
break...that's all I can forsee in the bullish scenario--the possibility
of higher prices from which to go short!
anyway...blah-blah-blah...here's the chart...
V
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