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Strategies & Market Trends : Sharck Soup
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To: velociraptor_ who wrote (15390)4/8/2001 12:27:59 AM
From: Mike M   of 37746
 
Charts don't seem to be clear in either direction for the short term. You may be right that 6 Apr was a turn but looks to me that a case can be made that we just completed the 2d leg of a corrective subwave C and are heading higher near term.

Pinning hopes on earnings warnings is treacherous as was born out by DELL. Satisfying lowered guidance is being well received in the present market, irrespective of any possible long term consequences. Put to call ratio remains high and may be worked off for the next two weeks. Then again, maybe not. It's what makes it a market.

Good luck.
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