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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (43295)	6/26/2002 1:11:06 PM
From: AllansAlias	Read Replies (11) of 209892

Let's get on the thread what you and I have been discussing via PM's since last night -- "The Middle Road". Let's me give the background... Huge gap down today. Hmmm... likely get bought. Everybody is looking for capitulation. Hmmm... seems unlikely. How could the market screw the most people? Step 1: A rally here that gets the bears all scared and the bulls talking about a successful test over the September lows. We get 150 NASDAQ points and it looks real fine. Takes a week or two. Step 2: While folks are looking the wrong way, we head down well below today's low. Perhaps it has to be accompanied by some bad news that makes folks NOT be looking for the bottom. This will be the capitulation. What do others think of this? (The move off today's lows looks choppy (i.e., corrective), so I am still open to a cascade into EOD, but I am not betting on it.)

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