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Strategies & Market Trends : Classic TA Workplace

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To: ajtj99 who wrote (88248)	12/24/2003 7:17:42 AM
From: AllansAlias	Read Replies (1) of 209892

Good point. What is, is. If you see a setup that is clearly bullish from a technical pov, one has to just accept it and forget all the noise. That Dow chart, like so many others at this moment, is trying to pull off an important feat -- to rise out of a rising channel. One only need to look back over the years at the times this has happened on the index charts to see the results of such a move. Where many get confused is that they think you are making a bullish market call -- "Dow to the moon." and all that. I do not see it that way. One plays the setup. If this move falls well back into the channel, it dies and one should have been stopped out. In fact, at that point one should probably be short because you're dealing with a "technical failure". Merry Christmas to all my colleagues on this board. It has been one of the most interesting years yet for traders and it is most often a pleasure to stop in and read your thoughts. Allan

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