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Strategies & Market Trends : Steve's Channelling Thread
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To: Zeev Hed who wrote (27923)9/18/2001 10:56:21 PM
From: bobby beara  Read Replies (1) of 30051
 
I hope this time will be "typical"(g).>>>

times are not typical zeev -g-

many semiconductors have been in sideways triangles from either december or april and are now breaking to the downside, there is a lot of pent-up directional power in these patterns.

the capitulation you are looking for and we need here must exceed the capitulation levels we have seen during the bull market.

look to dow theory, the transports are an integral part of the economy and have been pummelled.

do you think this spike down in the transports is the bottom, like a panic bottom and then recovery, or do you think there will be some major backing in filling in the uncertain months to come, it may take months before lower manhattan is cleaned up, the psychological damage was tough on the bull during the big decline from the 2000 top, but now the age of innocence has come to an end.

this is the grand bear market that removes excess from the previous bull, and cleans all the ugly balance sheets, and gets the still oversubscribed public out of the market.

We only hope that civilization has reached a new level and will be able to avoid armageddon, that has happened to a lesser degree in the bear markets of the 20th century.

b
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