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Strategies & Market Trends : Waiting for the big Kahuna
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To: bearshark who wrote (32585)10/28/1998 7:22:00 AM
From: donald sew  Read Replies (2) of 94695
 
Bearshark,

>>>> I am still looking for a correction before the next move. I need some more action to see what the market says. If we have an 800 point drop from here--which I do notexpect--this was a bear market rally.<<<

I think the next upswing could be the key if this is a bear market rally, rather than the size of this downswing. I also doubt that this specific downswing will be that great, so I am assuming that that it will produce a HIGHER LOW. Then the question is if the market can continue to produce higher highs. If the market cannot produce higher highs, I will first interpret that as confirmation of range trading, which could possibly be a hint that this is a bear market rally, although far from being conclusive.

On a subjective basis, I get a bit nervous when the market is relying on governmental intervention.

Seeya
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