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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (130567)	3/10/2006 7:47:03 PM
From: chainik	Read Replies (1) of 209892

<<<we have risk-averse folks selling into a rising market, to me that would be unequivocally bullish>>> Eventually yes, but what if the selling continues for 2-3 more months before a good bottom is reached? It's a question of timing. And this good bottom may be well below comp 2200. The charts you are looking at are pointing up. You suggest that the trend will reverse only when optimistic extremes are reached. The chart of SMH below 37 looks bad. Using your logic, one can speculate that the selling may continue until extremes in pessimism are reached. Not even close right now. Not that I disagree with you (everything you say makes perfect sense), but I see very mixed market with weak former leaders. In many respects, the situation here is similar to February-March of 2005. A lot of neutral/mixed readings. Can go either way.

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