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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: dougjn who wrote (1895)10/27/1997 5:56:00 PM
From: Trebor  Read Replies (3) of 42834
 
BB was just on KGO in S.F. At the risk of misquoting him, he said we should look for 3 phases to a recovery in this correction. Phase 1 will be a decline in the selling pressure. This could come as soon as tommorrow (or shortly thereafter). Phase 2 would be a small bounce back up as bargain hunters step in. Phase 3 would be a re-testing of the low. If the market survives that test and selling volume tapers off, that could be a buying opportunity. But he's saying don't jump the gun on buying. Wait until the re-testing of the low.
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