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

To: Zeev Hed who wrote (24592)	8/17/2001 10:15:14 PM
From: westpacific	Read Replies (1) \| Respond to of 30051

No Zeev, covered a lot today, holding a basket of select ones that technicals dictate. And believe me it is an odd lot that never gets talked about and non tech in nature. I am a trader first and when you have 5, 6, or more points in a short you take it - pigs get slaughtered. I trade individual charts, covered the ones that called for it and actually added new ones today that just topped today. I am only calling for a flush sometime next week. Then we rally for the next cycle. And have not plotted that yet but will this weekend. Agree that what I call for my not occur, but think it will and it will be quick panic flush with an upside rally on the back of it. News all over tonight was very negative on market, we do not rally just because we are oversold - this means nothing in a bear market. Panic could set in next week for the final near term bottom I see. It is not so much on NAS but more so on DOW. I only see maybe 100 or 150 more potential downside on NAS. All the best West

To: Zeev Hed who wrote (24592)	8/18/2001 6:40:22 AM
From: Justa Werkenstiff	Read Replies (1) \| Respond to of 30051

Zeev: Excellent post. I agree. Looking back to March, this we had a bounce before the Fed. meeting. And then we had the bottom in the S&P 500 and Dow thereafter. This is the higher probability scenario. If too many people got short on Friday looking for the Monday panic, they could have created their own own enemy in themselves. Could the sellers Friday been the shorts themselves more or less? This is a problem for the shorts.