Sharck Soup Message Board

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Strategies & Market Trends : Sharck Soup

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To: JustTradeEm who wrote (22199)	5/10/2001 6:15:19 PM
From: American Spirit	of 37746

You believe stocks only go in one direction? They went down today so they'll go down again tomorrow? That's the rule? Come on, we've had a rally and a sell-off both every day this week which have resulted in a stand-off with a slight edge to bears. In this particular situation I see a dip today as even more bullish for the next 3 sessions because the odds of a rally increase. Last week I reasoned I might bail tomorrow (Friday) if we rallied enough this week thinking the rate cut would be priced in. Well it hasn't been. On the contrary. Now it's getting priced out. So the upside is even greater. All a matter of opinion of course. Go ahead and short if you want. If you believe the Fed cut will make no difference. But I would think that an awful lot of shotrs will be covering before close tomorrow. Hard to think of any reason to hold shorts Monday and Tuesday esp since we've already done some selling off the past few days.

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