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Strategies & Market Trends : Classic TA Workplace

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To: NOW who wrote (109408)	11/23/2004 10:52:04 PM
From: skinowski	Read Replies (3) of 209892

Five wave decline from early March till early August, followed by a three-wave 62% retracement, which topped last week. I see that today VIX made new both intraday and closing lows. And that is on a day when SPX closed in the red, and INDU was up by 3 points. Dunno... I doubt that this market will go very far, at least without getting a good scare first. But otoh, who the heck knows... I hear there is a lot of money on the sidelines, and the short interest is not small either... Mutual funds probably didn't make anything this year, and the managers must be jumpy... A few percentage points run into Christmas could save many super-well paying jobs - and for that, they may be willing to risk some "other people's money". As good time as any to avoid heroics.... -g

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