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To: JRI who wrote (23761)12/4/2001 6:31:00 PM
From: Shack  Read Replies (1) | Respond to of 209892
 
Good points JRI. However there was a large distribution day last week though, I have no doubt of this (wednesday I think). Since then we have had very weak declines with very large TRIN readings indicating lots of selling. These TRIN readings are what we see at major bottoms, not tops. If that was J6P selling, we would have tanked further IMO. J6P does not sell at the top either. I do believe that the big boys are distributing. HOWEVER it does not mean that we can't go higher. An ending diagonal is all about disproportionate public participation.



To: JRI who wrote (23761)12/4/2001 6:55:05 PM
From: Doo  Read Replies (1) | Respond to of 209892
 
Gotcha, thanks. Last Tuesday was a distribution day on most indices, and on Wednesday on some. They way I track the price and volume signals, this rally is a pretty critical "tell" about the distribution. Sentiment still no where near extreme, however.


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