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Strategies & Market Trends : Don't Drink the Kool-Aid Kids
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To: Stoctrash who wrote (547)5/8/2001 7:04:36 AM
From: Poet  Read Replies (1) of 1063
 
Interesting Heinz post. I failed to sift that one out of the hundreds made the past few days. This line struck me:

in support of my contention that the latest 'bottom' would be the first in history that was recognized as such by the talking heads

The press' delight in the so-called v-bottom and their growing confidence that, despite the economic fundamentals, all is right with the markets, is what really concerns me. Turns just don't happen that way.

WRT a bank short, Hahn's getting the same idea:

The bank index was slightly lower as it approaches the apex of its wedge. Several downgrades of banks
were announced on the theory of increasing credit quality problems from an economic slowdown. A
breakout above 900 is bullish for this sector and for the entire stock market. The candlestick from today
is a “hanging man”, which suggests a trend reversal to the downside.
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