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Strategies & Market Trends : Longer-Term Market Trends
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To: AllansAlias who wrote (2098)2/24/2009 11:25:50 AM
From: Perspective   of 3209
 
AA, do you think we are really going to be able to produce a bottom of significance with this kind of options sentiment?



My general impression is that we need a scary retest of the November lows in order to produce a lasting bottom. Nothing I've seen so far looks all that scary to me. Options players are buying it, and the decline remains orderly. In particular, all the prior hideouts remain virtually untouched by the recent decline.

I place a lot of emphasis on the participation within a decline. When I see that the entire restaurant and retail sectors are not participating AT ALL, and when I see institutional favorites like AMZN and BBY hanging tough, I just don't get the impression that a low of any significance can possibly be made.

This bottom should scare the daylights out of everybody, right? Or was it just the November low that was supposed to do that?

Where is the fear?

`BC
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