Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (4566)	8/31/2001 1:00:17 PM
From: Stoctrash	Respond to of 33421

We could bounce some here....I'm playing it that way...looking for 37.38 then 37.87 based on some Fib stuffs. Of course...take out todays lows and we're in the "drop zone". Evil market, be evil in your trading. Pstop QQQ.60 is 2/3rds long here to a full out signal. One more good up hour and we would get it triggered..fwiw. Softee is the key, IMO...watch that sucker...

To: John Pitera who wrote (4566)	8/31/2001 1:01:08 PM
From: All Mtn Ski	Read Replies (1) \| Respond to of 33421

John, I watch the daily Trin, and it did get pretty high (5-6), but didn't stay there for long and settled in the 1.6-2.6 area for most of the day. Still a nice reading, but I agree with you on the "character" of this decline and that it is not ringing the "all's clear" signal. Volume has lacked conviction as well, up until the 1.5 Billion share day yesterday. I am watching for more large volume days and would like to see it get above 2 Billion. We need panic! <bg> Dick Arms did come out at the end of March with an announcement that, according to the Trin going back several years, registered a buy signal. He was right for a few weeks, but aside from a nice trade, we topped out around 2300 in May and its been whiplash ever since with the market trending lower. As a result of the months long distribution process, I am looking for that final capitulation stage, where the readings on all the indicators hit the "red zone", volume spikes and the spreads widen significantly, like in October '98. I think it will happen in the next 2-8 weeks. It may be a slow grind, which will be harder to time, but I'd prefer the quick and the bloody. <g> Tom