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Strategies & Market Trends : Complacency Indexes

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To: eddieww who wrote (1456)	6/22/2002 7:54:23 AM
From: ajtj99	Read Replies (1) of 1487

eddie, why would you have a buy stop at COMP 1423? We're in a parabolic drop to test and breach the Sept. lows, so you're setting up for a buy and a stop loss, IMO. The NDX has already breached the Sept. lows. Do you think the Nasdaq won't now? A Nasdaq and SPX breach is the high percentage play. When we do set a low, it is normally re-tested in 3-4 days after the low is in. That would be the prudent place to buy if you're looking to participate in a rally. That would get you within a few percentage points of the low without most of the risk. Look back at the lows in Jan 01, April 01, Sept. 01, and Feb. 02. All were re-tested in 3-4 days, and all but April 01 could be bought at nearly the low. Even in April 01 you could have bought the SOXX at a lower price on the re-test than the COMP.

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