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Politics : High Tolerance Plasticity

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To: kodiak_bull who started this subject	7/25/2003 2:18:53 AM
From: energyplay	Read Replies (1) of 23153

Bulls fail to take market higher ---- James "Rev Shark" De Porre at RevShark@aol.com. Pretty Ugly 7/24/03 04:23 PM ET That sure turned into one very ugly day. The bulls were given some great economic news, and they blew their chances to take this market up. A number of bears were obviously caught leaning the wrong way this morning, and the bulls could have produced some major pain if they could have kept the momentum running. But once again they run out of juice, and the bears came on strong. This was the fourth time in recent weeks we have had a big intraday reversal, and it really drives home the point that the bulls are struggling. Although I have been skeptical about the upside in this market, I have been waiting for a clearly technical sign before I get more aggressive on the short side. The intraday reversal today was exactly the sort of signal I've been waiting for. I believe this is a clear indication that the sellers are gaining the upper hand and that a break of the key 970-975 level in the S&P 500 is quickly approaching.

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