MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (10931)	3/2/2002 7:08:36 PM
From: nsumir81	Read Replies (1) of 19219

JT I agree with position trading but what did you see on 1/9 that made you go bullish especially in light of the fact that we had just pulled back some after an amazing rally and the charts did show some ominous signs in terms of a top?. You may have been trying to play a bounce I suspect, but got caught in a longer term downtrend. I totally agree with position trading (am one myself albeit not on the broader indices) but even from that standpoint, I think waiting for a rebound for so long (just to hopefully get even) is pretty long. Again that period is not long ONLY if considered RELATIVE to one's risk levels and OTHER positions/hedges etc. But as a take on the market and direction, that did seem long relative to the magnitude of the drop that ensued. Fortunately, the DOW held up relatively well holding others from falling through. Acceptable limits of position time frames can get expanded when trades go against us I think.

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