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Strategies & Market Trends : Charts & Scans

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To: Jeff Jordan who wrote (755)	9/19/2001 10:33:30 PM
From: robert b furman	Read Replies (1) of 5125

Hi Jeff, <today's close was very uplifting> I expect a soft 1-2 day recovery,with a price range on a 3rd day that closes on today's low. No real new lows but just not this fake paint the tape happy close that today had. This will bring about a second wave of insecurity (and margin calls as well - because of the lousey close).Follow that with a nasty open that hits new lows ( with a range down of the previous days closing low, with a turn around after lunch(that those who leave and go to a bar to booze it up and forget)never catch. Then up we rocket after institutions get patriotic. Vix into the 60's ( 45-46 today )and Put to call ratio over 1.20 - (1.10 today).Two fast down days that make it look like in two week everything goes to zero and you've got yourself a final volume reversal capitulation. The kind that makes bull markets re-emerge. It must have big volume! It must have Big Volume! It must provide shorts a high volatility opportunity to cover AND THEN GET LONG. It must have big volume - maybe even a breakdown in some offices. JMHO Bob

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