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Pastimes : Trading the markets.....

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To: GROUND ZERO™ who wrote (2403)1/6/2001 10:57:25 AM
From: robert b furman  Read Replies (1) of 4583
 
Hi GZ,

After recapping my tax selling,that website reminds me of my IQ in April.<VBG>

I guess wednesday wouldn't be the first false start the market ever gave us in a bottoming range.

I have a better feeling for the NAZ than I do for the Dow in quite a long time.Makes me look at the October plunge in the Dow and wonder if a retest is in order?

If that retest developed and the NAZ ( tech ) showed relative strength and diverged with the value/ old tech, it would be the obvious confirmation that a set up for the NAZ to rally later this year was being put in place.

That's the hope - the other possibility is the tide would drop all ships. All in all I'm in the green on 3 0f 5 and within a 1 1/2 - 2 points on the other. Never said I bought perfect.

I'll pay my darn taxes and enjoy no margin with 15 % cash waiting for a dip or wait for divergences to become more obvious before a pop.I wouldn't expect a confirmation rally until next tuesday anyhow.

In between I'm going to watch for an increase in block trades. That would indicate institutions are soaking up the overhead supply and getting ready to bid up tomorrows new leaders.Note I said "IF".HEHEHE

Bob
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