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Strategies & Market Trends : SPARKY'S CORNER
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To: Walk Softly who wrote (3582)9/2/1998 11:17:00 AM
From: James Wright  Read Replies (1) of 4142
 
"all the stuff I'm shorting looks sick.... bumping right up against resistance right on schedule."

That's exactly what I'm seeing also this morning with EGRP and QWST. I'm maintaining those short positions because I think we are in a sucker's (aka dead cat bounce) rally. If they rise above resistance, I'll cover.

Typically after a steep sell off, the market recovers about 60% before the next leg down. That's what I think is happening now, and you are correct -- we are right on schedule.

-- Jim
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