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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: orkrious who wrote (65718)5/10/2002 9:32:30 PM
From: Justa Werkenstiff  Read Replies (1) of 99280
 
Ork: You make a good point. At some juncture, the game must have at least a temporary resolution. And there is something to be said for not being too cute:

freebuck.com

Re: "I think we continue to puke and any rally will get sold and should be shorted."

When I say that we could backtest max pain, I am talking about a pop from whatever lower level we are at then if this is the case. I said a yesterday that I doubted 1700 could be reached again. After today with a three inside down candlestick pattern taking place within the confines of three black crows, 1700 is a very, very difficult argument to make. Geez, the Wednesday tease should be obvious except the perma bulls. And so for me a backtest means a pop from whatever lower level we are at then. And you are right. Must keep an open mind as to failure as time is running out and this week looks like it has a better failure probability than most op ex weeks of the recent past.
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