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Strategies & Market Trends : Classic TA Workplace

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To: morokko65 who wrote (12399)	9/7/2001 12:01:20 AM
From: The Freep	Read Replies (1) of 209892

Allan, and other keeper's of bigger picture charts. . . We've spent a lot of time talking about down and then a "C" up. . . and now that Down is a reality, I have a related question: IFF we rally (either from here or off the lows in a day or two) is there anything that says we don't simply bounce and then go lower still? I know the answer is "no, of course there's nothing that says we can't" but I'm starting to wonder if we won't get that one more sucker rally (a bounce here or off the lows could suffice) and THEN a final annoying/surprising/devastating washout. Maybe I only ask this cuz I sold some of my puts today <g/ng>, but I still don't think a plunge right here and now would be the cruelest thing the market could do. On the shorter time frames, by the way, the flat scenario didn't hold true, so are we conceivably in that wave 3 now? If so. . . well. . . glad I didn't go long! the freep, reminding everyone that unemployment numbers are at 8:30 EST tomorrow, and predicting that it probably has more to do with our direction than Japan does

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