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Strategies & Market Trends : Classic TA Workplace

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To: JRI who wrote (21584)	11/19/2001 12:32:58 PM
From: marginmike	Read Replies (1) of 209892

All dips have been bought with gusto. Advances have hade 20-40% more volume then declining days. The VIX, and P/c have displayed fear and high levels of shorting all rallies. There is strong leadership in SOX and Banks. Furthermore all bad news has been bought ie Qcom, AMAT is only down 1-2 bucks on horrid quarter etc. I do agree that we are way closer to the end of this as volume on up is weakening and P/c's falling and VIX closer to 20. However Low oil and stimulus will make ST inflation, and consumer numbers look good and Earnings YOY will start looking better so there wont be alot of really bad news until spring. IMHO I am still within a day or two of getting out so I am not disagreeing its close, just we are not there yet for big down. The tell to me is the fact that any small selloff bounces the P/c and VIX dramaticly and selloff days volumes have been tepid(1.5 bill-1.7) and on up days they have been closer to 2 bill

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