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Thanks for your insight Ben. Your posts are always very welcome and helpful.
I agree that the markets are over-bought or at least, fairly valued at this
point but as long as interest rates remain at anywhere near current levels,
people may continue to feel that equities are their only choice. The
longer the markets hold up, the lower fear will become and once most
"little" folks are back in, it will be time to dump on them as is normal
for U.S. markets.
Good trading to all this week.
Bob
At 11:52 PM 9/7/2003 -0400, you wrote:
>There is no doubt that all indexes are in overbought situation,
>the McClellan osc was over 200 on Tuesday, Wednesday
>and the same is with many other indicators
>However
>the new hi new low have DECREASED drastically in the last few days,
>that adds fuel to the fire, and brings to the surface the idea of shorting,
>the only fly in the ointment is the volume,
>decreasing volume is very LOW
>which leads me to believe that any correction (for now) will be shallow,
>I will only add to my shorts when dec volume in the nest few days in over
>increasing volume,
>stocks that did well in the last 5 days are
>corv
>dndn
>telm
>bkhm
>soi
>nt
>tlab
>
>and in the last 30 days
>(some with over 100% gains)
>dndn
>mtsn
>bkhm
>telm
>onnn
>corv
>happy trading
>Ben
>home of the perfect stop loss
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