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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 41.73

-3.0%

Nov 7 4:00 PM EST

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To: Runomo™ who wrote (4237)	8/25/2002 6:04:16 PM
From: lifeisgood	of 206760

Runomo I agree. Bears keep comparing the current rally to the 2 most previous failed rallies. What they fail to consider is that those rallies ended under much different circumstances than currently exist (e.g., VIX levels in the low 20's, 3 bulls for every bear, etc.). The "surprise" move is up. The current disbelief displayed by both bulls and bears suggests we have quite a way to go with this move up. It will catch many unprepared as it continues upward. When the bears capitulate, when VIX levels return to the low 20's, when Investors Intelligence Bulls outnumber Bears 3:1, THEN I'll be looking for a pullback and possibly a retest. Until then, I'm long some serious beta (since 7/22) and enjoying the ride. IMO, the more disbelievers, the better. These are comprised of both bears who have been averaging up their shorts (and will eventually capitulate at higher levels) and bulls who are hesitant to board the train (but will jump on in droves near the end of this move). The combination will be fuel for significant upside from here. best... LIG

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