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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: zx who wrote (58066)	9/12/2000 8:46:26 AM
From: Rarebird	Read Replies (3) \| Respond to of 116955

zx, there is tension on the tape that continues for many consecutive days, and at almost maximum inflection areas where bearish cases could even be argued. They will likely prove wrong over time. You have here a market vacillating (but with an upward-tilt) in the wake of the Fed's not hiking. This was simply a market that essentially hit short range goals, and became overbought come Labor Day. This market is like a "cat on a hot tin roof", but if that ceiling is just a single story structure, the fearful drop down would not be too steep, with the cat able to get up from the ground and try to surmount higher heights down the road. These cat like style advances characterize most everything I've seen since the May lows, in ways that ultimately can evoke a response that becomes almost the inverse of April/May; an upside capitulation wave. For now short-term support on the NDX comes in around 3700, and the bottom of a standard deviation envelope around 3500 though I don't expect that to be seen during the orderly and constrained pullback before even higher levels. PS In contrast to others here, who live in perma bearish Holy waters and who are quick to judge and then they run away swiftly only to come back with the same erroneous analysis, I'll still be around here and posting if I'm wrong. Wasn't that a good movie, "Cat on a Hot Tin Roof"(starring Paul Newman and Elizabeth Taylor)? Looking forward to the sequel?