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Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?

To: Challo Jeregy who wrote (19198)	3/12/2002 7:10:54 PM
From: Challo Jeregy	Read Replies (1) \| Respond to of 23786

is this some kind of grub?

To: Challo Jeregy who wrote (19198)	3/12/2002 7:17:40 PM
From: Jorj X Mckie	Read Replies (4) \| Respond to of 23786

I view it similarly to the vix going down on a down day. On the 2pt chart, it puts it right up agains the BRL and 3pts of the multiyear highs. Looking at it from the bearish side, I think that it means a bigger drop since it is showing a serious lack of fear in the market. But, it is important that I departed from following the traditional practice of P&F chart interpretation a long time ago. Conventional practice would wait for a three box reversal, I start thinking "top" at these levels and then look to other indicators and patterns to confirm. I believe that DWA gave the "all clear" to go bullish on Nasdaq stocks just yesterday. That is pretty much the opposite of what I would say right now. But then again, nobody is asking me to manage millions of dollars for them and they are asking that of DWA. so, the short answer, I don't consider it bullish in the bigger picture.