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Strategies & Market Trends : Classic TA Workplace

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To: Moominoid who wrote (147821)	8/12/2007 6:58:55 PM
From: y2kate	Read Replies (2) of 209892

Please correct me- according to Dow theory, the primary trend of the market is Bull- the secondary trend is Bull- the short term trend is Bear. Do any of you look to Dow theory to corroborate what you're seeing on the E-wave charts? Also wanted to mention that a market timer I sometimes follow says that the XLF and other big financials like GS were being bought big time last week- he looks at a proprietary indicator called 'balance of power' which detects accumulation/distribution... if anyone feels inclined to check out his TA: kingcambo.com. If this were true- that big money is flowing into financials while others are running for the exit...it wouldn't be a huge surprise, would it? We've got all around us all the usual indicators of a bottom: panic selling- dumping of good stocks alongside the bad- lots of sturm und drang in the media and on the message boards- VIX spiking- etc... Buffet: "Get fearful when others are greedy and greedy when others are greedy..." I think, in my very humble and quite probably wrong opinion, that we've quite possibly seen the bottom in the near and intermediate term or will very soon...so there! (: best, Kate

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