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Strategies & Market Trends : Galapagos Islands
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To: Jorj X Mckie who wrote (9044)10/23/2002 9:13:45 PM
From: Nancy  Read Replies (1) of 57110
 
there are some factors not in prev negated sell signals.

seasonality.

fund managers have the last chance to make this year less miserable so they wont face massive redemption again, and possible losing their jobs. you notice how many faces now showing up on cnbc with a different firm name underneath ? some firm names were unheard of, associated with a very familiar face.

big pension money needs a few months for them to comfortable staying in equity. goes back to seasonality. they wont do it in spring or summer.

that said, every st indicator is screaming overbought, so a sideway or some pullback should come. but would not be anything like before. and if the market can go sideway for a week or two, it would work off the overbought condition and that would be a repeat of 2001.
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