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Strategies & Market Trends : Befriend the Trend Trading -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (13775)	12/5/2000 11:47:05 AM
From: ratan lal	Respond to of 39683

207.61.23.99 The daily chart of NAZ shows that it still has some more weakness. I believe todays move up is in response to AG speech and possibility of elections being over. If FL SC agrees to hear Gore appeal then market will settle down again. Also AG speech will wear out soon and next event will be the actual fed meeting. I think NAZ will drop some altho it wills till be up over 100 but it may cycle below that sometime during the day.

To: JRI who wrote (13775)	12/5/2000 10:15:13 PM
From: Walkingshadow	Respond to of 39683

JRI, << I am torn here, because this doesn't seem to be the "real" rally from the bottom to me....good technicals, but we never had the real capitulation day >> I completely agree. While this may be a true countertrend rally (that remains to be seen one way or another), I am convinced that this market has yet to find a bottom. Today indicates to me that the journey to that bottom will probably be more prolonged and painful than I thought. I am torn also about what course to take here. I don't trust this rally to last, and am hesitant to jump into long positions with both feet. I don't like to chase things, for one thing. Probably, I'll resort to a few longs, a few shorts, which is what I usually try to do unless the market appears to me to be making a very broad, strong, and definite move one way or the other. I can't really comment on what Greenspin said, since I didn't listen to it, and anyway I'm not really a Greenspin watcher. I do pay attention to what he does, but I don't really watch his every move. Regards, WS