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Non-Tech : Raptor's Den -- Ignore unavailable to you. Want to Upgrade?

To: Stockdoctor who wrote (1116)	6/13/2002 11:51:08 PM
From: velociraptor_	Read Replies (2) \| Respond to of 10157

What the heck is an OPEX rally? :o) Capitulation won't come until we see a 5 billion + share day without an external influence like terrorism. It also won't come until tech stock are literally a dime a dozen, and most will be under $10 a share and probably $5 a share or even penny stocks. A lot of these stocks couldn't make a dime when the economy was chugging along, they surely aren't going to know. Until that time, all we are going to see are some good down swings and some powerful bear market rallies in between. The current downswing hasn't ended, but the hard part about trying to assess where we are is that is has unfolded in a complex set of continuous 3 wave ABC's. We're probably close to a bottom but honestly I am not exactly sure where. The other problem is that the last 10% of the decline in terms of time could account for 30-40% of the drop as momentum accelerates so missing a bottom by even a few days will make a big difference. The nice thing is that because it is unfolding in 3 wave ABC,s the next big trend is going to most likely be a large impulse and it will be easy to spot because of all the 5 wave moves up. However, until we see that happen, the only thing to do is to keep playing it to the downside and be cautious and take profits often since the end is going to be hard to spot before hand.