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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: tennessee_ted who wrote (12893)	3/23/2001 12:05:19 AM
From: velociraptor_	Read Replies (2) \| Respond to of 37746

I agree...but the rally was way too sharp, up volume never really picked up as much as it should have in that rally, market internals were crappy as hell, and it looks like the rally completed 4 out of 5 waves. Thus, only one more to finish in the morning. It smells...

To: tennessee_ted who wrote (12893)	3/23/2001 1:13:53 AM
From: Mike M	Read Replies (1) \| Respond to of 37746

The internal momentum of the downward move has been sliding for over a week. IMO This isn't just a two day rally. It will likely take several weeks to unfold. The put to call ratio was way out of whack (well over 1) and that can take some time for the hedges to be unwound. Bear rallies will likely leave the bears squirming as consolidation moves are unconvincing and puts lose their premiums...The NAZ has been outperforming the S&P lately and will likely have a much more significant rally and fall less when the bear continues. I doubt April puts will be much fun if your holding out for a breakdown. Good luck.