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

To: Rambi who wrote (16661)	4/17/2001 9:01:02 PM
From: Eurobum1	Respond to of 37746

Rambi...Thank you for your Chardonnay... I gave up wine since I left Europe. There is no logic at the top or at the bottom even in the middle. The fever will die down after the Big Boys took enough money from the Bears. Here is another scenario but remember they're just noises Market today discounted China , Middle East , no intermeeting cut , huge Cisco warning and horde of other warning. And what do we get , all three indices finished positive in last half hour momentum. Why I suddenly closed before the end was consolidation around 1900 and taking out 1903 resistance , forcing me to close at 1907. The other reason was Intel estimates were reduced by institutions hurriedly to make the results look better. Cisco's worst results were put before Intel to make it look better. So this is how the game was set up , to concentrate all bad news into Tuesday to create a numbing effect and then make results like Tuesday after hours look very pleasant. This is how Da Boyz set up the play. Make it look rosy . So what does Joe Schmuck think . The young trader , who enjoys only the rally part gets the good feeling . He goes out and has a good drink in the cabin . How much money moved into market last week ? Only $5.6 billion to set up 14% rise last week increasing the Wall Street value by a trillion dollars. History shows that record rally like last week has never lasted long. Market gives up 75% in the weeks ahead. That logic shows drop to 1700 in weeks ahead. Now to the upside te rally part . Remember Sept 2000 . Intel warned , Nasdaq opened the next day - 214 and finished up , wiping most of the the losses by close .I don't remember , it closed + 25 or -25 . But what happened in the weeks ahead. Nasdaq was massacred. What happened today , Cisco gave the biggest tech waning in history and started with the limit down open and ended up + 14 or so , followed up by a probable limits open and a 100 point rally. Monday , the tax selling ended , which helped on Tuesday. Wednesday of options expiry week start covering early , so squeeze will add further fuel to the rally. That leaves Wednesday after close another general . General IBM. That caution will limit the enthusaism of rally. So I will sit and watch the rally . You ask me about going long. No fat chance. I will only watch the rally to find the next intraday point to short. Lets come to the numbers. There will be reversal within the day. Within AM . From what numbers. 1979 is one hell of a resistance. And next solid resistance after that is 2031 which I believe cannot be taken out intra-day even. So if Nasdaq goes to that area 2011-2030 area will make a good short . (copied from another trader).