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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: the Chief who wrote (37320)	5/24/2000 9:02:00 AM
From: AllansAlias	Read Replies (1) \| Respond to of 62348

Chief, I think the volume is one angle and it may define some sort of short-term rally point, but it strikes me that we are only just biting into the bubble. We are very near wiping out the blow-off top that started with a gap up on Oct 29th. This ~2900 level coincides with a strong TL that goes back to March of 1999. Although I am wont to go with the crowd, this does strike me as a reasonable intermediate bottom. Aside from this price action and your volume theory, there are other ways to look at this exuberance such as NASDAQ P/E. This is just mental and has to come back to earth at some point. NASDAQ P/E's took off to lala land in 1997 from an outrageous 50 to a nosebleed high of 245. We have a long way to go to get them down to believable levels. THe S&P500 is less extreme but still UFB. Having said all that, I will be glad to trade any TSE rallies we get in the meantime. Buy XIU's on the way up. If the rally really gets legs, buy more puts at the top. All MO and it's working for me. Still read the thread and it's still one of the best on SI. Cheers --Allan