The Naked Truth - Big Kahuna a Myth Message Board

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To: MythMan who wrote (64847)	9/28/1999 4:41:00 PM
From: pater tenebrarum	Read Replies (4) of 86076

MM, don't get me wrong...the blow-off was obviously cancelled when we broke various supports to the downside. i ALWAYS said that while the blow-off would be consistent with history, it wasn't cast in stone, as nobody can really say when and how a mania dies. IF we get another rally from here, say back to the break-out points i'd short it for sure. my short comment earlier is not to be mistaken for an outbreak of bullishness on my part, i still think this market is toast. a day like today (sharp decline followed by strong recovery and slightly lower close) occurred e.g. in 1929 TWO DAYS before the crash. for some reason, the rally (instigated by "organized support") wasn't seen as a turning point then. however, keep in mind that bearish comments from Ralph Acampora are always good for at least an ST to intermediate term rally...he is wrong EVERY TIME he opens his mouth. remember his last call on the nutz (i.e."sell") came within a day of their bottom. he surely has lost every shred of credibility by now he might have had. so whether all hell breaks loose now or in two weeks, doesn't really worry me...as long as it does break loose.

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