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To: Perspective who wrote (502)4/20/2001 12:13:36 PM
From: AllansAlias  Read Replies (1) | Respond to of 209892
 
That's where my head is at right now BC. It will depend on how we count out the last little wiggles (i.e., is it a failed fifth, blah, blah).

This is sooo early, as you well understand, and these little wiggles today convince me of little in the bigger picture. I wouldn't be surprised if the boyz try to ream the early shorts here. I took my profits quickly, perhaps too quick, but it ain't middle time yet.

Speaking for myself, I think it's easy to get too excited at potential turns and get too aggressive or use stops that are too slack. One may have to whack it a few times to get it right. When she rolls, the small losses will just look like the admission price to the big show.



To: Perspective who wrote (502)4/20/2001 12:19:52 PM
From: AllansAlias  Respond to of 209892
 
On the weekly, I don't think CSCO will take out the extremely steep DT line coming off the January highs -- tsk, tsk. -gg Has implications that...



To: Perspective who wrote (502)4/20/2001 12:26:10 PM
From: AllansAlias  Read Replies (2) | Respond to of 209892
 
A friendly warning

This goes back to what BC said here. Ask yourself "Does this down look/feel impulsive? Does it have some balls?"

So far, other than the little roll off the very top, this is timid down. A swoosh down here would reassure me some, but at this point my spidey senses are tingling just a little bit and I am glad to be out with some profit rather than sweating this silly sideways action.

Nothing's changed. Turn looks OK so far imo. Just a reminder that when you think a market has turned, but the down is timid, it's a mild warning flag.