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Strategies & Market Trends : Classic TA Workplace

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To: NOW who wrote (64495)	1/24/2003 5:03:59 PM
From: Shack	Read Replies (2) of 209892

Not sure what time frame you mean. In the larger time frames I am still quite bullish. I have a 65% chance that we will enter another major up wave in early feb after this shakeout, but I have a 35% chance we are going to the pits of hell here. The force with which we are tanking here combined with sentiment tells me this will be a nasty shakeout or the hell scenario. I think your sense of bearishness is found only on this thread (which is always bearish) and perhaps Rydex. The commercials however are not all that excited about the idea of down and they may be positioning themselves for that wave up. We are not near any bearish sentiment extremes to get a wave up yet but it never takes much to get there. I finally saw some fear today (AFTER the DOW has dropped 500 points..LOL!). In any event, the most important line for the tech bulls is the broken Sept 2000 dt line which is sitting down at 1240. That needs to hold and I suspect it will be down at 1225 by the time we test it (asuming we are indeed in a 'c' wave down)

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