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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 12 4:00 PM EST

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To: t2 who wrote (81232)	8/8/2001 2:52:00 PM
From: eichler	Read Replies (3) of 99985

NV, <Does it not seem bullish that the Nasdaq market has just stalled at down 30?> Hope you are weathering the anticipated down action. Are you seeing now how one or two days of lame down action does not a rally set-up make? Is it clearer now why I wanted to see proof that the down action was over? NOW, I would say I'm feeling more bullish than when you asked me this question. I still expect weakness until we finally peak out now on the rising compx volume and we see a reversal of the lower lows and lower highs. A break of the downtrend line on the 60 minute chart will have me quite bullish for the turn and move back upwards. The irony is that now while the compx is getting it's butt whipped, people will become more bearish and will probably be selling the most right at the bottom where I will be ready to buy from the losers. Sad, but true. It can work no other way. For this phenomenon to change would require the enlightenment of traders and the negation of human behavior. IMO, it will never happen. Perhaps, it would be helpful to review this post from Sunday to understand how I easily saw the down action coming and was fully prepared and now preparing to get long ready... Message 16171463 I realize that it might be possible to construe this message as antagonistic in light of today's action but I assure you I am only trying to get my point across and help overcome the typical trader's habit of buying the highs and selling the lows. This behavior does not work...or at least if you consider how it works...it works only to lose money! Best regards, Eichler

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