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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (33206)	9/18/2000 12:42:02 PM
From: Susan Saline	Read Replies (1) \| Respond to of 50167

>>>>You can begin to cut the feelings of pessimism with a knife... That's usually when we have bottoms...<<<<< lol ... just the opposite of frenzy .... eh

To: James Strauss who wrote (33206)	9/18/2000 6:30:33 PM
From: Jerry Olson	Read Replies (2) \| Respond to of 50167

Jim there's a buyers strike here...no one wants to step up to the plate in front of a falling knife... me neither<G>.. we broke serious supports today..i still say we should short ny rally until proven otherwise... from the 9/1 top at 1529/30ish SPX we have fallen 88 points straight down practically without any meaningfull rally... this is setting up the next rally to failure for sure... take a look at the SPX weekly chart...i drew a trendline from the Oct lows right up thru today..1444.00.. if we do not hold this area we are going to the double bottom of July at 1413.00...post haste... and if that does not hold 1377ish by Oct macro cycle lows...you can easily see these lines and projections... as the price of Oil skyrockets, the bonds selling off for 3 -4 days, and earnings warnings rampant here...the markets are trying to discount this number..but are having a very hard time.. why?? because they do not have a clue how much this slowing will truly affect corp profits...and the next quarter will be worse than this one... so we are in limbo here..waiting for a bottom??? can not call it...no one can..period... i think of the seasonality of this time frame..incrediblly, predictable thats for sure... daytrading is awesome..cash at nite, trade and scalp allday...i love the markets...what a great way to make a living... regards OJ