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Strategies & Market Trends : Classic TA Workplace

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To: John Madarasz who wrote (28534)	1/17/2002 1:43:42 AM
From: Shack	Read Replies (1) of 209892

That was thorough brother. I think we agree more than you think John. I do believe the rally is that of a larger bear. But if I am looking at distribution days within a bear rally, don't I need to treat the rally as I would a bull and follow bull rules when we sell off down to (albeit short-term) support? Maybe, maybe not. As you pointed out, we really have hit our first real resistance levels but we hit them a month and a half ago. Regardless, I think there is a 50/50 chance that the bear is back in control anyway and you are viewing this 3 days of distribution as a clue we have turned. I think that's very valid and I am inclined to join you. I just am open to anything right now...its one of THOSE junctures in the market IMO. I'll know a lot more about that tomorrow I think. BTW, the bulls all see this as consolidation/retracement before the next large wave up. I think that will be their undoing.

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