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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (38463)	5/8/2002 8:38:58 PM
From: Shack	Read Replies (3) of 209892

Except for the fact we gapped up, I find this day reminds me a lot of Jan 3, 2001. Fed cut 50 points that day (surpise cut I think) That was a day from which I learned much. It was my first bear rally and my first understanding of the power of e-wave. I would not short until I saw the brother up which came in choppy form over the following week or so (after a fairly nasty 'b' wave actually.) Anyone who is interested in shorting this mess and does not think a major turn is in, I encourage you to go back and check out that time frame. By the end of that correction the COMP had rallied 25% off its swing low but now it barely looks like anything on the charts.

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