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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Bocor who wrote (6078)	10/11/2000 8:33:58 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

Bocor, I agree with most of what you say. However, the lack of a real extreme reading as yet on the VIX, the Tic and Trend (particularly in the NYSE), allows for this Chinese torture to continue a while longer. If we breach the year's low at 3050 or so on the Naz and do that without those extreme, then real panic might set in taking out another 500 naz points and taking the Dow to possibly below 10,000 before it is all done. That may take us till the middle of next week or so. Frankly, if that happens, in the next three days we may generate as much damage as we generated in the whole month of September. That is why I am still cautious and actually might even sell few positions I bought yesterday on any post morning bounce. Particularly those that violated important levels such as the Bu$$. Zeev