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Strategies & Market Trends : Classic TA Workplace

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To: velociraptor_ who wrote (27763)	1/13/2002 1:04:21 AM
From: AllansAlias	Read Replies (1) of 209892

In the end, whether or not we get a squeeze is not important. It's a wiggle in the big picture. The next really big opportunity that matters is getting short. I meant to add to that previous post Velo, that one of the biggest things on the negative side of the ledger is the banks. I believe that the banks and other finanicals will lead the next big decline (a banking/credit crisis). I think it'll happen very fast when it hits. The RUMX formation definitely worrisome. It has to turn from right here or I call off the squeeze warning. Things are so precarious, hell, it could hit Monday morning. The banks had a nice breakout on the 4th and now it's being given back. Not only that, but they have been choppy and ugly this entire incredible advance, building a sloppy, bearish wedge. They are now at the bottom of that wedge. If they can not turn up, then we'll have two things that I would never bet long against: 1) A breakout failure 2) A bearish wedge breakdown Nope, if the banks crater on Monday, especially if they gap down on bad news, I'll still be flat come Monday afternoon (or short -g/ng).

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