MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: HairBall who wrote (475)	8/8/1999 10:27:00 AM
From: J.T.	Read Replies (1) of 19219

LG, For those calling Thursday's low the bottom, in my opinion it should be played with risk money only. Then as the Market proves the call correct, one can stage back in. Sure one will not make as much money, but that is always the price of insurance. And that is what the market* should* be doing, bouncing off Thursday's lows if it is expected to continue its long term existing upward trend. My contention is sentiment has changed in the last week. We should have got a better bounce and in some indices the bounce never occurred last week. Plus, A/D Index was basically negative 2 to 1 for at least three days in a row (Thursday was about 1.8 to 1 on a strong up index day). What good is my warning, if it is after the fact? Best, J.T.

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