Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: NOW who wrote (20102)	9/20/2000 4:57:58 PM
From: pater tenebrarum	Read Replies (2) of 436258

first of all, i was partly being sarcastic...and secondly, i WAS expecting a good bounce to relieve various oversold indicators a bit (documented here, if you go back and look at the posts in recent days)...but my actual current strategy is not to play the bounce (i don't play every little wiggle...too stressful for my taste) but rather to wait and see how far it goes to establish shorts/puts. i'm expecting a lot more weakness in the medium to longer term...some of the technical signals that have been given over the course of the year, and in fact very recently, imply that a major down move is in store...something totally inconceivable to most market participants nowadays. in short, i'm not confident enough about the short term upside potential to really want to play it...that said, i'm well aware that the printing presses are doing overtime with a view to keeping the market afloat going into the election. it is not out of the question that the NDX for instance travels back to the upper boundary of it's trading range (a.k.a. the wedge). which then would mean that i missed out on a playable move...not the first time and certainly not the last...

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