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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (16986)	5/10/2002 8:33:10 AM
From: Susan G	Read Replies (1) \| Respond to of 26752

I meant damage to the indexes....because they are unable to hold gains when they are forced up there over resistance in a jamb job <g> Like I've said before, resistance has to be broken honestly <g> - with consolidations on the way up that can provide future support. When the futures are gapped up in the morning, they often fail because there is nothing but air underneath. All those islands led to island reversals down and then lower lows. 5 times in a row this year. I think if the indexes instead climbed slowly and stairstepped up they could hold the gains. As one talking head said on TV yesterday, he'd rather see three 100 point rallies than one 300 pt one. More sustainable. And when I think about it, it does damage to longs and shorts also, which I guess is the market's master plan <g> Shorts get creamed on the way up, and longs on the way back down.