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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (12337)	7/20/2001 7:44:58 PM
From: TechTrader42	Read Replies (2) \| Respond to of 52237

Lee: I agree. I was just answering the question, posed by another poster. I suppose the point suggested by the question was that the market isn't really as bearish as some might suppose. I don't happen to agree with that (though I do see plenty of bullish opportunities when they arise in shorter-term charts). In addition to what you say, there's always the possibility that we haven't seen the worst of this bear market yet. Remember that Barrons interview in which Richard Russell said the major industrial blue chips are the last to crack? There are a lot of stocks that haven't "cracked" yet. I don't know whether things will get much worse or not. I'm not a believer one way or the other. One can marshal all sorts of arguments on either side. It can be rather pointless. The reward doesn't necessarily go to the side with the loudest or most logical arguments. The reward will probably go to those with the most flexible views on the market. To me, the longer-term bearish view probably makes more sense, based on history, the economy, the longer-term charts, fundamentals, etc. But when did the market ever make sense? Why people stand on soapboxes week after week preaching a strong summer rally is a complete mystery to me. Every week there's a new persuasive argument, and the market continues to thumb its nose in the crowd and drop. What happens to their portfolios during all the down weeks is another mystery. Are they using stops? The same goes for those predicting a summer crash. Ole man Dickson Watts wrote, btw: "Quiet, weak markets are good markets to sell. They ordinarily develop into declining markets. ... When vice versa, a quiet and firm market develops into activity and strength, then into excitement, it should be sold with great confidence."