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Strategies & Market Trends : 50% Gains Investing

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To: Ray Rueb who wrote (31195)	9/25/2002 3:11:18 AM
From: Dale Baker	Read Replies (2) of 118717

Another poster's thoughts on EP I just saw: "EP may have the mother of all bounces, but the way I look at charts it's still saying, abandon all hope ye who enter who except for gamblers and bounce players. Look at the 5 minute chart, the big volume (beginning and end of the day) was all in the sell-offs. 61 million shares traded, the stock is still in distribution, still sitting with more sellers than buyers. Look at the daily chart, big nasty red candles on high volume. Is it oversold? Yessiree Bob. Is it due for a bounce? Not until something changes in the visuals. The situation could change tomorrow and it could turn on a dime, but missing the first part of that doesn't bother me. What would bother me and my brokerage statement would be to buy and get smacked for another 25% selloff. Nothing says go long in this market, except maybe Miss Piggy, so for now I'm standing aside. And watching, of course."

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