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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (26368)	12/29/2001 7:56:59 PM
From: The Freep	Read Replies (1) of 209892

Thanks for posting that update, Allan. So, we've got the commercials still heavily net short, but covering for three weeks. Then we've got some people posting this week that there were lots and lots of put purchases on the indexes, skewing the put/call ratios. I shoulda bookmarked the folks who claimed that it had to be the commercials shorting, cuz we'll know next Friday and we can go back and berate those posters for misinformation (online misinformation??? SHOCKING!). Yet, at the same time as seeing the commercials cover, Allan, you said you increased your positional shorts. What have you seen in the market action to make you do that? The inability of tech to rally up to even near its Dec 6th high? The inability of the S+P to surmount that 1170 resistance? Something more sinister? The current up/down actions of the market seem pretty tough to read wave-wise, at least to a rank amateur like me. But did you see some possible wave conclusion with yesterday's marginal new near-term highs in the indices? My goal for 2002 is to stop doing stupid things. Luckily, asking folks like you questions is one of the smarter things I do, so I'm afraid you're not rid of me quite yet. the freep

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