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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (16798)	5/30/2001 7:11:06 PM
From: Zeev Hed	Read Replies (3) \| Respond to of 30051

The key number, IMHO, has already been breached (I had 2095 as the critical number for the rally to continue). That apart of a slight bounce from 1052 (the May 14th low), the die is set and we are going under 2000, and possibly much more. The problem is to try and "divine" what the next direction is going to be before these critical trend confirming, or trend breaking levels are reached. It would have been much nicer to get an inkling when we got in the 2250 to 2388 area that this was a good selling area, well we did not go as far as 2388, and that by itself (with the colors of the advance) was the first hint that this was a bear market rally. Of course, tomorrow AG may slash another .5% and prove all of us wrong again (g). Zeev