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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (12637)	9/9/2001 7:44:18 PM
From: Poet	Read Replies (3) \| Respond to of 209892

Hahn is expecting an imminent bounce, perhaps after an initial whoosh down: This is not the time to press the short side. We are due for a bounce for half a dozen reasons. The question is whether it happens immediately on Monday morning, or happens after a capitulation whoosh down. It really doesn't matter! Expect a bear market rally, of some kind, very soon. Please do not misconstrue these comments as a shift to bullishness. We are in a secular bear market with huge downside risk, but that doesn't mean we can't zig and zag on the way down. From an Elliott wave standpoint, both the bullish and bearish perspectives are looking for an imminent wave low to be followed by a corrective move higher. It just seems too easy to short the market after last week's plunge. However, I would be looking to short a relief rally on our next time wave projection. Please watch the Open Market Operations. There was no help from Fed liquidity injections on Friday. This “silence” makes one wonder! The crash protection team may have both barrels loaded for Monday morning, to avert a crash or reverse a crash. The politicians are starting to “sweat” regarding the global equity market meltdown. To a large extent, the Fed is pushing on a string, but that doesn't mean they are incapable of temporarily pushing up the stock market with massive liquidity injections. A worldwide equity market meltdown is in progress. At times like this in the past, there have been coordinated efforts made to negate the crash potential. Greenspan will act to protect the financial institutions which are too big to fail. We are at the point of financial catastrophe, should the markets drop precipitously between now and September options expiration. The Dow30 is very vulnerable and is the linchpin for the entire market.