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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: DebtBomb who wrote (83067)6/21/2002 2:44:38 PM
From: Softechie  Read Replies (1) of 99280
 
Fleck: Obviously, it was another ugly day (6/20). It looks like we are potentially building to capitulation. If we have a big down day in the Dow and the housing stocks, a real rout on big volume, potentially that might signal that we would have discounted the worst for now . Perhaps then there could be a meaningful bounce (that would set up the fall wipeout I have long been expecting). The volatility indices are starting to ratchet up, so we might finally be getting close to a crescendo. However, a puke of that magnitude could encompass a good deal of points. So, while the end of this particular slide could occur in a handful of days, it might be a real white-knuckle event.
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