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

To: UnBelievable who wrote (19995)	11/7/2001 6:03:38 PM
From: The Freep	Read Replies (1) \| Respond to of 209892

<<Until We Test The Mid September Lows Everything Is A Meaningless Wiggle.>> I totally disagree. A move of more than 30% in the Nasdaq is NOT meaningless. A move over downtrend lines is not meaningless. If I had been paying better attention to the bigger picture map, I am sure that A) I would have caught more of the up on this run and B) I would've tried fewer shorts on this run. That's not meaningless from a swing or day trading point of view. There are no guarantees about a retest either. We might not retest that September low til 2003, for all we know. Will that make 2002 meaningless? (NOTE: while some argue that pop music in the 80's was meaningless by and large, that doesn't make the years themselves meaningless). We also might retest the low in December or January or any time, really. Under your premise, the move down to retest the low is also a meaningless wiggle. I disagree: it'll probably give us hints as to whether we're going to new lows OR are soon going to new highs after the down. Just cuz you view the market as irrational and overvalued (I concur) doesn't mean that it's going to do what you expect. The last 2 years have proven that over and over. the freep