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Strategies & Market Trends : Ask DrBob

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To: indexit who wrote (44566)	9/24/2001 6:34:01 PM
From: stan_hughes	of 100058

indexit - Another interesting perspective on "the rally" from Tony Dwyer (stolen from one of the RB boards this afternoon) - More from Tony Dwyer 9/24/01 1:04 PM ET More from Tony Dwyer who is off-site today: "This is a rare time in the markets because there is a limited amount of selling pressure despite today's rally. Not enough stock was bought near the lows on Friday to generate significant profit-taking, and most people's average cost is so much higher that there are not a lot of people selling to cut losses because they are still so deep in the hole. "That was a huge market decline, so even a 3% to 5% bounce isn't going to bring out the sellers. Believe me -- there is a lot of stock that will come out, but the sheer magnitude and sharpness of the decline means that it should be from higher levels. "Not enough profit to take, given the losses and not a big enough rally to cut losses. At least for right now, that means fewer sellers than buyers. There is no question in my mind that we will have to go through the retesting and bottoming process, but as for a trade, this rally might stick for a few days due to lack of sellers".

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