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Strategies & Market Trends : Shorts waiting to happen

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To: Cadaver who wrote (388)	8/1/1996 9:31:00 PM
From: Don Twist	of 852

Everyone was sooo bearish, and everyone was short and bought puts and then the markets trap you. If one studies bear market rallies you will find they are straight up and then collapse. Tom Demark's book states you should use a nine count to determine the rallies. What this means is a stock will make nine new highs or recovery highs before it turns. Once again this is not nine days but nine higher highs which may take 12-15 days.Someone pointed out that breaking 656 on the S&P is bullish as that was the point of the breakdown, watch this point because if it fails watch for 600 again.

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