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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: dennis michael patterson who wrote (22480)3/26/2000 2:25:00 PM
From: Robert Graham  Read Replies (1) of 42787
 
Interesting. I have been seeing topping type of action for a period of time now during junctures in the market before another leg of the rally unfolded. But what followed was some strong moves up. So I thought it would be difficult to tell the actual top. I thought first the market would become more volatile. And then there is the effect that derivatives have on the market to consider. I think derivatives in part cause the volatility. And they can provide support on a pull back that can sometimes result in price moving just as quickly back up from an extended pullback. This increased volatility can add up to some interesting trading opportunities.

Perhaps we will end up with further increased volatility with some interesting rallies off of support before an actual top is put in? Many traders still may capable of jumping in a couple times when price hits support before standing back from catching the falling knife. Once this stops working for them, then we may see a top put in for the longer term. I think this action can cause a market top to be more difficult to be determined by the short term trader. While on the longer term charts the market may have put in a turning point, the moves that follow to the upside still may be playable.

Not attempting to predict here. Just sharing some thoughts on what I think may happen before an actual top is put in. I am ready to play either direction.

Comments welcome. :-)

Bob Graham
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