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Strategies & Market Trends : P&S and STO Death Blow's
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To: byhiselo who wrote (15311)11/15/2002 11:44:08 PM
From: nsumir81  Read Replies (2) of 30712
 
"A ton of buyers"..for tons of overhead..folks seem to be ignoring the overhead. Since 10/28 and hitting 1350 on a gap open, the NAZ has gone not much anywhere...60 pts (or 20 % of rally off lows) in 17-18 days. The objective is to unload the old and suck in the new. So it spends the maximum amount of time in the bagholder range. Surprise !

Select another date..10/21..this is better

About 67 % of rally was done here in 10 days

Since then 33 % of rally in 25 days since 10/21. (all approximate)

And the other major indices?

Of course, the intraday ramps (daily ranges almost equal to 60 points ! quite often) off the pullbacks are impressive.

But then, perception is what counts.
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