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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: moorso who wrote (2524)	5/9/2002 11:48:21 PM
From: da_cheif™	Read Replies (1) \| Respond to of 207795

as for a gap opening on friday...well der is a chance as todays pullback was a 3 wave affair and a possible 2nd wave....if so.. a gap up wud be no surprise...the only headache is that unfilled gap left at wednesdays opening.....sentiment is in super shape as it was reported today that the american association if individual investors shows the most bears since november...and the bull bear ratio is at benchmark oversold territory at 30 %bullz and 41% bears...this is numbers found only at bottoms not tops ...of course they can allways get better than that....but market vane is down to 22% bulls and timer digest 10% bullz....other sentiment figures such as the 5 and 10 day arms are also into benchmark oversold territory....and of course most called wed pop as a typical bear market rally....and since most were locked out of the long side by the suddeness of the advance it wud surprise me that the boys wud not take advantage of that and leave the world behind.....inother words like coming off the sept bottom which was a lockout...this one has all the earmarks of another lockout....i dont know of many who got and stayed long on 9/21....which i believe endd the bear for the dow....and it was preceded by a clearly defined 3 wave structure which is clearly corrective...the broader measures of market activity reflected by the value line and the weekly ad line of the nyse bottomed long ago...the ad line almost 2 years ago....