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To: Zeev Hed who wrote (76994)3/8/2001 12:01:11 AM
From: Andrew G.  Respond to of 436258
 
QED #76993. Zeev eom



To: Zeev Hed who wrote (76994)3/8/2001 12:18:56 AM
From: AllansAlias  Read Replies (1) | Respond to of 436258
 
Zeev,

I have no emotional preference for long or short. Folks here can attest to that. I love rallies. I love melts.

I was referring to the longer-term view. Folks got caught with their pants down *again* at the end of January and whether we rally for another day or 3 months it will happen again. I am only trying to inject some caution into the bullish argument that the worst is over. No matter where we go, their pants would stay firmly belted if they used stops and stopped trying to outsmart the market.



To: Zeev Hed who wrote (76994)3/8/2001 12:24:49 AM
From: Michael Watkins  Respond to of 436258
 
Zeev,

Fortunately we have lots of signposts along the way here.

The last couple days are just a small consolidation within a much larger range, despite all the talk and angst - trading in here is an invitation to being whipsawed or taking on undue risk.

ottographs.com

Safest of all strategies would be to let the big range play out.

My guess leans to a scenario where the upper boundary of the larger range is attempted. I would be looking to sell a failure to move up from a test of the top of this range.

In the bigger picture SPX still needs to deal with this...

ottographs.com

And I think a rally up for a while and then a catalyst to cause a move down would be quite a fitting end.