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Strategies & Market Trends : Classic TA Workplace

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To: jjstingray who wrote (67099)	2/21/2003 2:46:04 PM
From: Paul Shread	Read Replies (3) of 209892

Oh... my... god... 14:25 ET Market Summary : If there is no one around to watch the market rise, does it really count as a rally? Wall Street clearing out for the weekend. But not much activity was going on before traders began heading for the elevators. Looking forward to hearing how today's move is described in the evening media. The point they'll miss is that it doesn't take much volume to create a rally. In fact, easier to do so in a thin market -- especially, on an options expiration day. Hard to take much away from today's action. Thin market allowed stocks to be taken lower on the Staten Island fire, and whipped back once traders decided that it wasn't a terrorist event. The In Play take: There are buyers for stocks at these levels. While media focusing on the negatives and experts talking about more bear action, many of those who've been trading short for the past several yrs are looking far more frequently for long opportunities. Probably wiser to listen to those who've made money than those who've lost their shirts and are too scared to buy another.

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