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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (43317)	6/26/2002 1:31:19 PM
From: John Madarasz	Read Replies (1) of 209892

#2...it's the LEAST favored by far, and still has cycle work to back it up. rationale... 1)bad news begets bad news. Just don't know what it is yet 2)lots of old heads willing to "stay the course"... so far, still got green from value ltbh 5-10 years ago...concerned, but definitely not scared, these folks will sell at break even or slightly above 3)Forced margin selling on any further decline 4)terrorism factor 5)market still filled with weak bases that no way filled off todays gap down 6)NYSE bullish % level still needs work to confirm broader market 7)Sentiment not showing conditions for durable low 8)Buyers strike...rallies will be short covering, not buying. As a decline takes hold, short sellers see limited potential, fail to participate, provide no support

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