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Strategies & Market Trends : Classic TA Workplace

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To: NOW who wrote (57680)	10/24/2002 6:41:21 PM
From: Shack	Read Replies (3) of 209892

If distribution is the game here (and today was a huge tipoff that it is) then this scenario sure makes the most sense. And as you say it should be frustrating. It also means the pullback here will likely be shallow (38% at most). It also means that they will make it hard to buy (no gap downs, just a solid couple of days of selling with some kind of quick 'v' bottom and gap ups to keep us in their ballpark). It may even be done by tomorrow. The long red bars may even lure in some shorts. I know there are some bears who are pretty horny about the alleged wedge breakdowns.

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