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Pastimes : All Clowns Must Be Destroyed
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To: Lucretius who wrote (29173)4/25/2000 6:28:00 PM
From: pater tenebrarum  Read Replies (1) of 42523
 
i wouldn't call them 'earnings' in the traditional sense of the word. i've been looking for a shorting opp. on that one. i have 180 in my sights as a good shorting level...that was resistance at what looks like the left shoulder in a developing h&s.

note the p/c ratios denote the superfast unwinding of fear in this market...which means there will be lots of whipsaw action.

whenever the 21 and 10 dma of the equity p/c ratio make a high and begin to trend lower from there, the market rallies for a while. that said, we have yet to see real fear...it simply wasn't present except for a few moments on CPI Friday and perhaps at yesterday's lows. generally though the equanimity of market participants is astonishing.
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