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Strategies & Market Trends : Stock Attack -- A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: OX who wrote (32511)	10/11/2000 12:08:42 PM
From: eichler	Read Replies (1) \| Respond to of 42787

Ox 6 months ago, as a relative idiot compared to now ( I'm a quick learner) I would have agreed with you. Sitting on 500% gain in my first 6 months of trading, it was easy to have a BTD mentality. But that mindset has cost me big time as now I'm only up 100% since starting trading one year & 2 months ago. Since then, I learned the hard way what a Bear Market is (didn't really know from first hand experience before). Like they say "The Trend is Your Friend". The trend is down. I am fully expecting the NAZ to take out the may lows. People are margined out now like they were in the Spring, as if nothing has happened. In this giant poker game called the stock market, the dealer always wins. I agree with you that we are closer to the low than the high, especially down in the NAZ over 1000 pts since 9/1. The VIX and p/c ratio are indicating we are close to a low. But "low" is a relative term. Low can go lower. And I really don't believe the margin selling has really hit yet. As I type, there is a rally in progress but how long will that last? Judging by the activity since 9/1, my guess is not very long. You could be right that maybe this is the much anticipated "capitulation" day, but I don't think so. I believe the old timers who say when we hit bottom, we'll stay for a while. Haven't seen it yet. As long as the market bounces like this every time we drop a hundred points, it tells me there are still too many fools with too much money. My money's on the short side as it has been on and off (mostly on) since 9/1. Until I see the May low taken out and shot....longs for me will be very short (term). Profits and then the hell outa there! FWIW I am thinking the full moon 10/13 may offer some kind of climax and turnaround for a more sustained rally, but as OJ has been posting... rally's are for shorting for the forseeable future. I have to agree. Happy trading! Eichler