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

To: JRI who wrote (16819)	10/17/2001 12:17:34 PM
From: martin001	Read Replies (1) \| Respond to of 209892

Well we just broke thru a few minutes ago. As far as a backtest level- its hard to say - probably best to draw the line and keep an eye on it. We may not even get a back test today - though I would be suprised given MSFT this evening and the power of the futures the last 2 weeks. Whats amazing to me is the futures volume - every time we get a selloff its met with buying in volume. I cant believe there is that much real bullishness out there to support that kind of buying especially considering the move we have had. I got to believe that most institutions were not smart enough to buy at the lows so usually we would have already been headfaked back down to allow them good entries. This rally for the last week feels unnatural. Having said that I will not fight that regardless of my thoughts. So really I would like to see the futures volume taper off before I start aggressively shorting. M