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To: Petrol who wrote (144792)1/19/2002 12:41:25 AM
From: Petrol  Respond to of 436258
 
financialsense.com



To: Petrol who wrote (144792)1/19/2002 11:14:41 AM
From: GraceZ  Respond to of 436258
 
Any thoughts on this?

We need a strong rally to bring on the crash?

Seriously, the rally on Thursday was all about small players getting short squeezed, little guy buying and institutional dumping. The big guys need one or two more of those in order to distribute their shares to the usual bagholders. This is a prerequisite to a crash.



To: Petrol who wrote (144792)1/19/2002 11:15:23 AM
From: mishedlo  Respond to of 436258
 
My thought is that someone who is 200% index long is silly.
We have not reached extreme pessimism or even moderate pessimism IMHO.

Yet, we have seen a turn.
A turn in the VIX and a turn in sentiment.
Until we see some tick counts in the -1000 range I doubt the market turns up too far before it drops (IF it turns back up at all).

I am not short but I sure would not be long here (other than a daytrade).

M


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