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Politics : High Tolerance Plasticity
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To: Warpfactor who wrote (15830)8/6/2002 8:06:16 AM
From: chowder  Read Replies (1) of 23153
 
Earning profits has a lot to do with attitude. On the last bounce, several people here had some nice returns in tech stocks, but wanted more. I had made the suggestion to sell the rally, lock in profits and wait to do it again. The response was the VIX was too high to sell.

The most important thing in using TA is knowing what the trend is. The trend can be price action, volume action, and it can even be a trend of buying dips or selling rallies.

The trend has been to sell rallies and will continue to be that way until the market settles above some major levels of support.

If you're not in a "buy the dip" environment, then you're in a "sell the rally" environment. I sometimes refer to this as the "condition of the market."

Ya gotta know where you are before you can find out where you're going. <g>

dabum
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