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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (47936)	7/28/2002 10:00:27 PM
From: marginmike	Read Replies (1) of 209892

I am already long from last week as you know, but in no substatiall way. I think a retest of the current low with a litlle throwover would be possible. I really am more in the rally dept on the basis of VIX spike and retreat that has signaled rallies in Sept, and OCT 98. If we were to spike higher on the VIX it would be pretty unprecedented and to me would signal my mind set is wrong. However VIx could spike to 49 or so and we could get a marginal new low. However I am baisicly in the rally camp for now. I have moved my stops up so I will take home a profit, but left another room for a litlle backing and filling which would be expected in a rally off the lows. This quest news will be interesing in its effect.

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