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Strategies & Market Trends : DAYTRADING Fundamentals
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To: ams who wrote (16165)7/12/2002 6:11:23 PM
From: TraderAlan  Read Replies (1) of 18137
 
Leave it to the press. There was no head and shoulders on the SP-500 in February, 2001. So its real hard to say they were "right".

YHOO and AMZN did have real H&S patterns back in 1999. The Net stocks hardly represented a small subsector of the market. They were the market back then.

<Contrarian thinking can be dangerous when everybody else is using it. Then, it's not really contrarian thinking.>

You must be confusing me with someone else. I'm way past direct or contrarian thinking at this point, no offense.

<Did it ever occur to you that in the "last decade" (till year 2000) every pattern was a buy signal>

Nonsense. There were real live corrections and contrary signals embedded throughout the 1990s run. The buy and hold mystique is a nice story to tell our grandkids but the time was a lot more complicated than that.

Alan
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