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

To: ajtj99 who wrote (27830)	9/18/2001 1:12:01 PM
From: vampire	Respond to of 30051

the excessive readings occured yesterday..most technicals i have seen agree that we are due for a bounce..though noone thinks it'll be very strong

To: ajtj99 who wrote (27830)	9/18/2001 1:51:42 PM
From: LTK007	Read Replies (1) \| Respond to of 30051

<The only thing that seems to be missing is a catalyst for a reversal, and that will bring volume and short covering.> like what a declaration that nothing has happened it was all a dream and we live in peaceful and wonderful times? like an announcement the Consumer Confidence number is rising(and it is just an illussion that it is falling fast). Got any other good ideas?

To: ajtj99 who wrote (27830)	9/18/2001 3:00:26 PM
From: Steve Lee	Respond to of 30051

I agree that to go up, the market needs a catalyst. I think the best it will do without such a catalyst is to hold under PPT buying. The fact that is is holding up is so artificial that a horrendous drop is on the cards IMO. Fed needs to stop propping and let the market do what it is going to do. OK, let it down gently - but at least let it go the way it wants to go. Artificially held markets are an invite for shorts to pile on. It is going to be in effect a new tax cut, but with the shorts getting the benefit and the "patriotic" buyers getting shafted.