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Strategies & Market Trends : Classic TA Workplace

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To: John Madarasz who wrote (65548)	2/6/2003 6:44:51 PM
From: AllansAlias	Read Replies (5) of 209892

If we go up tomorrow I think it will start one helluva squeeze. The conservative should have a straddle here. Volatility is a little high, but I still think it would pay. I am wary of a market that has 4 or 5 opportunities to sell-off but does not. The charts look like they should drop now. This is not complicated. Look at the Dow or the S&P. When you see a sharp drop followed by congestion, the natural course of events is for the trend to continue. Moving up out of this congestion would be a Hound; I have no doubt of that. So far at least, I see no reason to change my view that the Oct lows will hold for now, followed by highs that take out the Dec highs.

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