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Politics : High Tolerance Plasticity

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To: pvz who wrote (17910)	12/1/2002 3:17:48 PM
From: Warpfactor	Read Replies (2) of 23153

PVZ, I will chime in with a vote for "C" - market will eventually push through. Hedge funds dictate the market - they seem to operate in their own form of herd-think. They pushed the market to truly extreme technical readings in July and again in October. We market technicians got in too early and got roughed up good - at least I did. The hedge funds are now enjoying a ride up, J6P is really not on board yet. Market technical are somewhat sitting on the overbought side, but not extreme by any means. Many times we market technicians have drawn a line in the sand in the past 6 months, it was crossed without even any hint of resistance. I say we keep running up into the end of January, with some modest pullbacks to the key moving averages. Then the markets probably froth around until March/April before another summer of doom. BWDIK. I personally do not buy a fundamental case for a bull, but Don Hays (for one) seems to think a spectacular new bull is forming that will shatter all market record highs over the next 10 years.

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