Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: tradermike_1999 who started this subject	9/18/2001 9:37:04 PM
From: tradermike_1999	Read Replies (2) of 74559

I think we are about to get an intermediate term rally within the next week. The VIX is at 45! The Nadaq, S&P 500, and DOW technical momentum indicators such as RSI, stochastics are all oversold. All indexes are below the lower bollinger band. The last time everything lined up like this was in April. I do not think this is the end of the bear market - lol. But I think we can get a rally that can take the nasdaq up to 1700-1800. DOW to 9800-9950. Problem is these indicators cannot tell you the day or hour of any bottom. They stayed like this for over a week in April before the markets began to rally. Right now all I have is a short position in GENI and puts on CSCO. I plan on spending next few days looking for possible long candidates. Course there is always the thought that recent events have made charts or any other traditional trading method completely useless.

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