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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (12142)	5/8/2002 4:30:15 PM
From: High Country Trader	Read Replies (1) \| Respond to of 19219

>>If tomorrow is another day like today I would think it was bearish. to much to fast is not bullish<< Nothing could be more bullish than another day like today tomorrow. These are called momentum thrusts. Some of the biggest moves historically have come with extremes in momentum, especially five day momentum moves. Dan Sullivan at The Chartist newsletter has done a lot of research on these type of momentum thrusts. However, like you I remain skeptical. The up/down volume on the Nasdaq today was very disappointing. Today however was the third best ever day since 1997 to dateline into Asian tech funds - the surest thing to a free lunch in trading there ever was - and that's where I made my play today.

To: marginmike who wrote (12142)	5/8/2002 4:36:58 PM
From: bobby beara	Read Replies (2) \| Respond to of 19219

massive rallies in one day like this are usially Bear rallies,<<< we had a rally like this from similar levels on October 3rd, those rydex numbers indicated a large amount of capitulation, stockcharts.com the dow broke it's down channel, Cisco is a bellweather stockcharts.com[w,a]dbclyiay[pb50!b200][vc60][iUb14!La12,26,9]&pref=G that volume spike is usually not the kind of thing that just rolls over and dies. I don't believe the economic conditions are there for the big kahuna the bears keep promising (i thought we already had that anyway -g-)