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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (60255)	11/22/2002 7:53:38 PM
From: Shack	Read Replies (1) of 209892

This thread has not traded this move well at all No need to beat around the bush.-g Fully agree, I am very guilty of underestimating this move. Actually I was fine until the end of October when I began to try to trade a non-existent countertrend correction in non-tech, dumb. At least I stayed away from tech poots and actually made did nicely on the long side early on and with RIMM, like you I was out too early. November has been a total waste for me and I have given most of October back now. Should have gone to the weeds as you did instead of paying the option writers for smiling at me. It pisses me off because realistically when you look at the XMI, that non-tech correction did actually happen (and is still happening I think). It just looks like an expanding triangular Jell-O bouillabase to me since mid-Oct. But unfortunately I have been playing with DOW puts and the DOW has had an upwards bias (likely due to its 3 big tech components). I'm going to have to find some other proxy for non-tech, any suggestions? I'm curious as to your thoughts on that XMI expanding triangle as well. Obviously this has more to run, as powerful as Smelly has been, it has yet to retrace even 38% of the March dump (unless you use bc's log retracements). On the COMPQ I have been mentioning a fair bit about the large long term S/R line going back 5 years. If the bear is still in place, then I am confident the COMP dies in this critical 1450-1500 area but how much time premium is one willing to pay to guess when? ANd yes, mike has been the class of the thread.

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