Message #45089 from jaime choy at May 28, 2003 1:54 AM
How are you Bobby?<<<
jaime, my hairs falling out, my eye sight is getting weaker, my sex drive needs viagra, other than that I can't complain --g-- , but thanks for asking --g-
my mind is still sharp as a tack =ggg=, but for how long.
Here is a nice chart from claude with the rut showing up with a white bar into the 2000 bottom pivot.
pw1.netcom.com
there was a pivot range around the march high and some indecision in the middle of the range of the last 9 months, the bulls have taken charge out of that center and now control the market, anybody that was shorting the market after the breakout of the march highs needed to get unmarried to their bearish ways quick, those that didn't got killed.
now we have a big wide trading range for almost a year, trading ranges always end in trending markets - there is still a question marke here of the trading range because the dow hasn't broken out and it's possible the nas is doing a bull trap , but right now the bulls have the edge, with the nasdaq making the first higher highs and higher lows since the beginning of the bear,
if you look at a volume chart of the nasdaq there was huge volume into the june and july lows and very wimpy volume into the february and march lows, while the rydexers at the march lows were piling into bear funds at record #'s and the put/call ratios were near the oct. lows., and the public had been on a 9 month selling spree of mutual funds.
The nasdaq chart has all the characteristics of an H&S bottom. |
