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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (6436)3/21/2001 8:41:52 AM
From: Jill  Read Replies (1) | Respond to of 8925
 
Curious what you think of Hugh Downs comment:

Now, we are below the lowest low at 9,800 and falling.
Looking at the Weekly Chart, we can see that the Diamond
Pattern may, indeed, culminate in a failure. For those who
have not read this page before, diamonds are rare patterns,
and imply moves down a distance equal to their height.
Since this one is about 2,000 points in size, and the low
is around 9,800 we have a case for a market moving down to
about 7,800. That's a lot.
---------

I wonder about buying puts on the indexes



To: Michael Watkins who wrote (6436)3/21/2001 10:29:57 AM
From: Not_Active  Respond to of 8925
 
That breaking of a trendline in the wrong direction after a loop has formed seems to be a powerful signal. I'm currently backtesting a number of things, but its laborious given that it has to be done by hand (at least for now). Will report the results when available.

And you are right, going short is definitely NOT the thing to do in those situation. ;-)


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