Sorry. Gonna back ya up Peter.<g> HERE is the post:
VERY few called the bottom and the important April 2001 rally. Here's my table pounding post from Strictly Drilling:
Message 15622665
<THIS RALLY IS FOR REAL!
IMO, we're not looking at a 1 or 2 day wonder this time.
Been looking at the internals they are VERY powerful. This IS NOT a flash in the pan guys and gals(g).
Use stops and stay alert. But DON'T sit on your hands!
"Briefing.com suspects that short covering was also fueled by an expectation of a weak March employment report
tomorrow that would raise the odds of an inter-meeting easing by the Fed (perhaps as early as tomorrow if the
data are decidedly weak)..."
"As strikingly positive as the A/D line was at the NYSE and Nasdaq, the degree to which up volume swamped
down volume was even more striking..."
"At the NYSE, up volume finished ahead of down volume by nearly a 7-to-1 margin and the advantage was a
whopping 25-to-1 margin at the Nasdaq..."
ALL rallies begin with short covering. It's the volume, volume ratios, breadth, tick, trin, last hour action and many
other internals 've been reviewing that distinguish the real McCoy from the wipsaw.
In the money management game, the above volume ratios are considered very potent confirmation of a rally. The
kind of rally with staying power folks.
Do I know how high this will go before it tops out?
HELL NO!! And neither does anybody else...YET.
Sure we can talk about 10/3 or 10/5 (as Bull and I have been doing) but those levels are NOT written in stone.
Bottom line, this is a powerful lift off and I like what I see. Will probably add to my 4 recent buys on dips.
Remember. If you want to make money in this game one of the keys is BE flexible. DON'T get married to being a
Bear OR being a "perma bull". Both points of view have their time in the forefront but then you have to adjust.
Hanging onto a point of view too long can result in either actual losses or high "opportunity costs".
So throw out emotional committments to the market, stocks or cash. They are suits of financial clothing to wear
and change out of as as market circumstances dictate.
Isopatch>
Peter, don't know what all this sudden hostility from you is being caused by. But, it's certainly not because of anything I've done. A moderate critique or debate is one thing. But an inflamatory post with a 4 letter word to drive the venom home is a different proposition entirely.
Where's all the praise you've been heaping on me for my gold work over the past few months???
As of now, you owe me an apology for bashing and making false posts about my record.
Isopatch |
