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Strategies & Market Trends : Classic TA Workplace
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To: Shack who wrote (94261)4/3/2004 6:13:56 PM
From: SwampDogg  Read Replies (4) of 209892
 
I am having a hard time understanding your position here.
Granted the conservative short player should look for the first big hit to the market and short the retracement after that hit (which should be on somewhat lower volume).

This was spoke a lot about on this thread a few months ago and was certainly a respectable approach. I am just wondering why this is not that opportunity and why everybody here is still looking up.

That could have been a Wave 4 that we just had and we could be going to new highs but it is just as likely that this is the top of a Wave 2 of an "e" down or of a Wave 3 down. We should know in the coming days but to call somebody's view "hogwash" is close minded. We live in amazing times and one should expect amazing things on both sides.
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