P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: ajtj99 who wrote (9561)	10/6/2002 3:44:28 PM
From: Jeff	Read Replies (1) of 30712

you are of course correct because as the 1932 bottom showed...the retest came 6-months after that bottom.... so as folks dogpiled back in as the market rose violently off the 32 bottom....many thought the worst was over again only to watch another long slow bleed rollover back down to near that first bottom......that had to break the spirit of many once again.... its a lesson in history not to be forgotten....and in a smaller sense it happens everyday in this market... new lows are not the lows until they get tested again...and then "hold"...and a "major" low won't be retested in a few weeks like the july august stuff.....a "major" low will be tested months later..... so all those who think they missed a bottom are suckers....because the first bottom is never the only time you have a chance to buy it.... thats why these folks today are all turning into "falling knife catchers".....when they see a stock make a new low...they think what a bargain....and they get sucker ramped....only to see it fall right back down again... these things work like clock work yet you see many folks ignoring that basic rule and getting toasted for no reason....

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