Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: bambs who wrote (2531)	3/22/2001 10:54:09 PM
From: westpacific	Read Replies (1) of 74559

Well, the Fed cannot only cut rates, but also is the one supporting the SOX via the plunge team - there is no doubt. We cannot selloff forever in a bear market. Next week will see a massive counter rally - these rallies are not like normal rallies, in a big bear they can be explosive. We had a taste of this today. I covered 70% of my shorts, too risky in next week. Plan on scalping a few longs and reloading all shorts into rally at set price points. The Fed is in action, heavy shorts - the short call is getting too easy and this is a time for caution. The smart trader understands and I tell you we see a rally next week. IMHO and of course barring a major news event. I will be net flat into the weekend other than a few hedge longs and shorts. Careful here - today shows how easy it is to be trapped = and it can be very difficult to cover in a bear rally. You need to think ahead of the curve. Watch the greed. Good luck, we all need it - the volalitily made for fantastic scalping today. This is a great traders market - but you have to be one step ahead of the curve. West

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