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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (13225)	6/20/2001 6:35:17 PM
From: Ta_Bo	Respond to of 18137

Heh, doom and gloom abound... The markets all have head and shoulders patterns, even CNBC is yakking about it.. But yet, I'm thinking long. Check out the time and Fibonacci symmetry in the Naz. Reposting this from my thread... =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= The symmetry continues between last years base and the formation we are trading now. The base last year took 43 trading days to resolve itself. It finally gapped down to the 62% Fibonacci support level, and headed higher. 21 days later it re tested the top of the range, double topped and headed lower. So far history is repeating itself. We are only at the 50% fib level right now, but that area seems to be holding. If this is the short term bottom, 21 days would put the top (if symmetry stays in effect) on the 19th of July. realitytrader.com We will know by the end of this week if we have our short term bottom at these levels, Fibwise we have a time and price squaring up here, so I'm thinking higher. Scanned the russell 2k and see lots of heavy volume selling at the end of long bear campaigns. Perhaps this small cap capitulation will take some pressure off and let us bounce. This base comparison is a lot of fun, even during these periods of chaotic range bound movement. There is still as of yet darn near perfect order. Good Trading! -Bo Yoder

To: TraderAlan who wrote (13225)	6/20/2001 9:34:36 PM
From: mcvcpa	Read Replies (1) \| Respond to of 18137

Alan, After reading well into the article you posted I realized that it appeared to be well over 10 years old (eg references to "lackluster" productivity, etc).....then I saw the reference to the Bush administration and got confused all over again!

To: TraderAlan who wrote (13225)	7/6/2001 8:46:15 AM
From: TraderAlan	Read Replies (2) \| Respond to of 18137

Very interesting part of today's UE report: "08:37 ET Economic Data : Notable in the Employment Report: the aggregate hours index - a monthly proxy for GDP - fell at a 1.4% annual rate in Q2, offering evidence that Q2 GDP will reveal a decline." The GDP is the common measure for recessions, ie, when it shrinks we are in one. Guess thats not a big surprise. One theory I've been working on is questioning the comments that this downturn is different than those in the past because it started in manufacturing before it carried over to the consumer, who is just starting to cut back. Perhaps this means that the downturn is just beginning rather than nearing its conclusion. Alan