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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (36965)	6/12/2002 9:51:24 AM
From: Terry Whitman	Read Replies (3) \| Respond to of 52237

I need to obtain that type of cool objectivity: >I've no opinion about how important a bottom is coming. Or how long it will be in the future before there's a lower low< Hard for me to do though. Speaking of looking at the weekly numbers- how about the weekly A/D: geocities.com Only the biggest divergence since- well, since the inverse one on the left side of the market top.. The weekly new lows can be read more than one way. The recent peak is showing only 1/3 of the new lows hit last fall. Meaning, several hundred stocks are NOT hitting new lows that did hit them last fall.. The problem I have with waiting for the fully recognized bottom is this- 1) By the time it is fully recognized, by definition, the majority is already long, leaving little time to play the upside. 2) The same thing happens in reverse as happens when you hold longs waiting for a recognized top. It becomes more and more difficult to sell once you're past the top, as each lower top entices you to hold on. Past the lows, you hold off on buying, seeing each higher low as confirming your bearishness. I know this from experience. <ng> The way I learned the art of trading is to buy when nobody wants them, and sell when everyone wants em. If I'm a little early, so be it. That's the price of playing a risky game. <g> That said- the NDX is threatening new lows here- so I can't deny the bear market is still ongoing there.. Regards, TW