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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (117789)	4/27/2005 11:49:59 PM
From: Shack	Read Replies (1) of 209892

Yeah I get it. Effectively the "extension" scenario. When it comes right down to it: Has the bounce since since April 20 been bullish? Without a doubt, No. Can we extend hard downward? Yes, although IMO its unlikely. Do I favour new lows? Yes. Can this be a B up of the same degree as the entire decline? Yes, means we are a while away from new lows though. Can this be a (v) up in an ED. Yes, new highs before new lows. There are way too many scenarios for me here but I concede that long is dangerous given the corrective move up so far. Sticking to the individual stock set-ups and being very cautious about money management. I wouldn't touch long unless the set-up and entry is near perfect.

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