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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Lucretius who wrote (19541)9/19/2000 12:08:41 PM
From: pater tenebrarum  Read Replies (1) of 436258
 
i'm just reporting on what the indicators are indicating...it's not my fault they were saying oversold...-g-

and remember, stocks have a natural upward bias (they go up about 2/3rds of the time over the past century), so overbought conditions are more natural than oversold conditions. AND in the mania important chart levels will always entice the fund managers to take 'defensive' action (i.e. phone some yell kings at the brokers and tell them to tout at the top of their lungs, and use other people's money to buy up the key index stocks). they want this incredibly lucrative game to continue, preferably forever...
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