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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Perspective who wrote (42742)11/30/2000 9:51:15 PM
From: posthumousone  Read Replies (2) of 436258
 
OK guys how bout rebutting this argurment for a bottom : )

To: Dealer who started this subject
From: djia101362 Thursday, Nov 30, 2000 9:09 PM ET
Respond to Post # 21273 of 21275

If you look at the market technicals, it has bottom written all over it.
One of the main criteria for that elusive "capitulation" stage is heavy volume. Today we had the 2nd highest volume day ever on the Naz. By volume standards, we had "capitualtion" without a doubt.

I'm pretty sure we had net up volume on the Naz as well. The Naz opened and closed at about same level which is what makes a "Doji Star" in candlestick charting. A "Doji Star" indicates that bears were trying to take the market down but were unsuccessful.

Someone was buying stock to bring the Naz back from -170 to -60 before ending up down -109.

I'm calling this the bottom, we shall see.

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