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

To: shamsaee who wrote (2422)	3/9/2001 1:34:44 PM
From: HammerHead	Respond to of 52237

you're kidding right?

To: shamsaee who wrote (2422)	3/9/2001 3:36:54 PM
From: Michael Watkins	Respond to of 52237

Well its hindsight now but what I would have said is that it is far too early to call for that kinda of speculation. Price was stretched big time and its very common for things to grind sideways in a range before things carry on (or potentially reverse). There would have to be very big thrust upwards and supporting following action in order to call any sort of a bottom. The major trend is down, we have to respect that. That's why I made the point that its safer to sell retracements in a downtrend then it is to attempt to call a bottom. Only the most nimble players are going to be any good at bottom picking, and that only after trying and failing many many times. Why bother? Look at the big ranges in these bars on the 5 min ES and NQ. This is not a happy market! Except for short sellers.