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Strategies & Market Trends : Classic TA Workplace

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To: JRI who wrote (9848)	8/11/2001 2:56:32 PM
From: bcrafty	Read Replies (1) of 209892

JRI, but rally for how long is the question Until we get some convincing upside volume I would think that any bear market rally would only last 1-5 days. Since our mid-May rally, we've seen declining volume on each rally since then. Not enough of the sidelined money is convinced that it's time to step in yet, and I can't blame them with lousy earnings reports still coming in, and probably will continue to come in until January at the earliest. Notwithstanding rate cuts, good consumer spending, and whatever other bull argument presented lately, investors will continue to cry "show me the money" on earnings news before they're convinced a turnaround is at hand. Until then we'll just meander along with only the big houses and the very short term traders playing around. And the volume from those groups probably won't produce enough volume for a sustained move, IMO.

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