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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (34133)	5/21/2001 12:38:01 AM
From: bcrafty	Respond to of 100058

phoenix, I sure hope the top is soon I've gotten burned a little, shorting too early, since Wednesday as the dip buying continues. My guts have been telling me that this rally should end as quickly as it started, and I thought we'd see more downside action last Friday, but the dip buyers were still out there. From what I've read I think it was buying by fund managers that started things and kept the ball rolling Wednesday but I don't think their action alone can sustain the rally. I was quite surprised that it happened when it did, but now I'm waiting for the inevitable other shoe to drop. Without meaning to sound like indexit, Wednesday's rally appears to be the king of manipulation of the little retail buyers that only the big guys can pull off, just like we had that drop a couple of Thursdays ago which was supposedly on "fears that we may only get a .25 cut." Yeah, right the big guys knew that they could get a the sell snowball rolling, get the little guys to sell, and then by their shares for a quick long play starting last Wednesday. The technical indicators you specify clearly show that all is not well, so I think it's just a matter of time to see when the big guys are going to take their short term gains and let the selling begin. I'm hoping they'll start Monday, the sooner the better as far as I'm concerned.