Ask DrBob Message Board - Msg: 15788104

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Strategies & Market Trends : Ask DrBob

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To: iowamann, Spam Queen who wrote (33393)	5/11/2001 12:53:09 PM
From: Drbob512	Read Replies (1) of 100058

iowamann: The breadth and breadth momentum indicators were slightly positive Thursday but have been weakening for the past week in particular, while the daily chart has been looking toppy during that time, so I decided to go into all cash because there is an increased liklihood of those indicators turning bearish if we have 1-2 days of weakness. Other technical indicators have worsened and we have not had the kind of positive follow-through from the April 18 technical buy signal that should have occurred if this rally were to continue longer. I think long term investors can keep their longs if they don't mind some short term volatility and weakness, but as a swing/position trader, I go into cash and do a little shorting when I believe the odds favor a short term decline. This transition/neutral markt (we are not in a roaring bull market yet obviously, and the lack of follow through confirms that) makes for technical rallies that seem to always fail to make significant progress. I could be wrong and a rally today or early next week could turn my indicators up again and at least postpone the next decline, but I believe the odds do not favor this...

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