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Pastimes : A Novel Academy: 56ers in Annapolis
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To: Cornstock who wrote (1950)11/14/1997 4:17:00 AM
From: Doug R  Read Replies (1) of 2403
 
RSchuler conversation #2 Part 1:

RSchuler1: Hi Doug!
Not a good shorting day today...
Tiric: Declines outpaced advances.
Tiric: Here are my thoughts as written to Sergio and Scott:
Tiric: The "end" of the bull market has now been defined by the Dow's activity when it made a low that was lower than the March '97 low. A type of line that had not existed has been established and that line will now always be there. Just as a line is created that I call a mountain in the middle major downtrend will continue into the future, the line that I call a valley in the middle will continue into the future. When you know what to look for, you are at an advantage.
Tiric: I am still going to advocate long positions until that line is broken to the downside. I am not impressed by the gain in the major indexes on Thursday since declines still outpaced advances. I am tracking the stocks brought to the threads since the seminar that fit the proper chart criteria and I hope one of the stocks uncovered will yield a long POW.
Tiric: IN, you are correct in that we need to keep an open mind about short versus long as a POW so Friday and Monday activity in the major avgs. will play a big part in how we handle the POW. I suggest going one way or the other but not both ways with it. So far the market dictates (by a margin of 51 to 49) that long is the way to go. Until the VIM uptrend is broken we are still technically in a bull market.
RSchuler1: gotcha
RSchuler1: ok
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