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Strategies & Market Trends : Angels of Alchemy
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To: SirRealist who wrote (23136)12/11/2000 12:31:33 PM
From: hjz  Read Replies (2) of 24256
 
Jack H. saw the market action similar to May and it has now been confirmed. The bottom of the market was the 2540 level on NOV. 30th and now we are up almost 500 points since that time. Most stocks have an a great run since that time and unfortunately some traders did not trust that bottom and did not enter their favorite stocks.

I hope that some traders will just look at the charts and technical data and not listen to gurus that are on TV or on Silicon Investor. Like Jack pointed out, Nov. 30 was the "capitulation day", a steep decline then reversal upwards on very strong volume. That was a technical analysis based on fact not opinion and I hope next time traders will spot those factors for the next reversal.

The next move in the market will be a very strong up day followed by a decline during the day into the close on very strong volume. That will indicate the market has topped out for the short term, I hope everyone is doing well in the market now.

HJ
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