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Strategies & Market Trends : Classic TA Workplace

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To: ajtj99 who wrote (60121)	11/21/2002 9:46:29 PM
From: At_The_Ask	Read Replies (1) of 209892

Most of this rise since tuesday has been fueled by guys that shorted heavily based on the possible head and shoulders that had formed on the spx and dow, not to mention the wedgie looking rise from the 11th. Two perfectly valid bearish signals that completely failed, and in fact the very opposite came to pass. Toss in a good dash of perma bears who are still holding position shorts in anticipation of compx 300 and bada bing we go vertical. The next time I see a bearish or bullish "whatever" I'm doing a straddle. As I stated before it is my opinion that "chartchasers" are being specifically targeted by pit traders and or hedge funds. As for this ramp I can't say how long it will last. I've been bitching about spx 1050 for a while now, maybe this is the one that gets us there.

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