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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.31

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Nov 12 4:00 PM EST

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To: Return to Sender who wrote (34398)	9/22/2001 3:31:50 PM
From: Johnny Canuck	Read Replies (1) of 67878

Hi RtS, Part of the problem is that we really won't see a true bottom in the market till the last of the long term buy and hold types throw in the towel too. If this kind of thinking persists then COMPX 1000 is a really reality. The market will bounce a few time before we get there, but those comments indicate that true capitualtion is not here yet. The FED can drag this out, but I don't believe they can stop a recession. If the market does not turn before the end of the year in a significant way, then I believe we are in for a long and protracted economic slide as the psychology of traders and investor alike will have been dramatically effected and it will take years to change that.

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