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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Math Junkie who wrote (1659)	10/26/2001 5:53:20 AM
From: Justa Werkenstiff	Respond to of 99280

Richard: Re: "Yeah, it's amazing how every strong move in the market's random walk is interpreted as the start of an enduring trend, even though 90 per cent of the time that's wrong. And people do it over and over and over and over... " Yesterday's move surprised me in the fact that it closed up for the day. I thought it might rally back a bit from the lower open but in no way did I think we would close up not to mention the strong up. I thought that day was coming. We had been probing that resistance for a long time. But I did not think yesterday would be the day. I had it pegged for early next week. Yesterday was a huge bear trap. Short covering accounted for much of the move later in the day. There are many dumbfounded and worried shorts. Time for a bull trap to develop.