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Strategies & Market Trends : Ask DrBob
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To: Drbob512 who started this subject5/15/2001 8:41:05 PM
From: indexit  Read Replies (2) of 100058
 
Charts are very sloppy, generally means a couple reversals tomorrow, and impossible trading. I suspect there will be a little more follow through to the sell off we saw in the late afternoon and then we get a rally at about 10:30 am, and then we get a sell off in the late afternoon. Like I said impossible. Stick to your convictions, a perfect market to get shook out at every move. I will be trading light (or is that lite). The biggest positive I see is the stochastics on many techs appear to be bottoming and will want to head up. The biggest negative is many Dow stocks are just hitting the glass ceiling of resistence. Also the BOP is neutral on lots of techs, was postive until about 1 week ago. Actually I am pleasently surprized the charts do not look like they are going to fall off the face of th earth after a fed rate cut like they usally do.

Short Ebay overnight, may actually attempt to hold a couple days, but I will undoubtly cover on spike.
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