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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (38837)	5/10/2002 5:33:58 PM
From: The Freep	Respond to of 209892

So. . . we've got the Dow about to have breakdown failure. We've got the naz which with a gap down could have an island reversal. We've got the S+P back near its recent low. We've got a gazillion stocks either filling their gaps or still above their gaps. We've had a fine retest of the Naz triangle. On the flip side, the Commercials didn't get shorter (though are still very strongly net short, I realize). Max pain remained 32 after today (though Wednesday MAY have fulfilled that). MSFT could bounce off 50. We haven't retraced 78% of the rally yet. There's the gap support before the lows (either the tuesday close or 1594, Tuesday's high, if you prefer to look at the gap from there (making an island reversal easier)). The VIX nearing its 200 dma and upper BB. And the FCI is of no use, I'm sorry to report, as I'm basically flat. Should make for an excellent weekend of conversation around here, I do say. the freep

To: AllansAlias who wrote (38837)	5/10/2002 8:26:41 PM
From: bcrafty	Respond to of 209892

Yes, you caught me My problem is with trying to be either quick enough or patient enough to properly chase them. <g> Timeframe is the key to any good indicator chasing, though. A little joke for you: (posted by Don Ewers on the RealTraders Yahoogroups list) There is a technical trader and a fundamental trader having dinner together at a steakhouse. Well, the fundamental trader knocks his steak knife off of the table and they both watch it as it spins and falls. The knife sticks right into the foot of the fundamental trader causing great pain. The technical trader looks at him and asks: "Why didn't you move your foot?" The fundamental trader says: "Because it shouldn't have fallen that far" ;~}