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Non-Tech : Tulipomania Blowoff Contest: Why and When will it end? -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (1798)	8/4/1999 11:29:00 PM
From: wanmore	Read Replies (2) \| Respond to of 3543

Before we all get excited and start to count our short profits before they are made.....please just do this one thing. Get a weekly chart of NASDAQ. (Weekly charts show a long term trend better) Draw a trendline along the following points. The 1996, 1997, and 1998 highs (it will hit 2X in 1998). This 3 year resistance line will provide support on Jan, Feb, April, and June of 1999 after the resistance has been broken. (Resistance lines often become support lines when they are broken). Now, can you see where we are heading? Which direction is the long term trend going? Would you initiate a short position on the NASDAQ under 2450 without confirmation that this trendline would not hold? Ride the wave. It's down now but this may not BE the ONE. EVERY correction does not have to be "the big one". It's OK to be long when the trend is up.