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

To: Bob Biersack who wrote (20314)	7/10/2002 11:03:05 PM
From: Susan G	Respond to of 26752

Not sure until I see what happens tomorrow when we test last week's low...trying not to be too bearish, but I think the nasdaq is going to 1250 or 1200 before it bottoms. That's a minimum target (!) But nothing goes straight down so we could get a bounce at any time. Especially if the PPT steps in to stem the bleeding... And a swift reversal that put's in a V bottom could happen at any time, sentiment is getting so bearish it may be soon. If we get severely oversold and short covering gets rolling and buyers at the same time step in on good volume we could rally. But all rallies and resistance areas are going to be sold hard - until a trend change proves itself by taking out the declining tops we've had for what seems like ever. All we need is a good higher high - that holds to start the move. But since fear and puking has just really begun, I think there's more to come. The scary media headlines only started yesterday, anyone who doesn't watch the market closely doesn't even know what's going on yet. The statements don't come for weeks! I won't touch a thing long until I see signs of a reversal and some basing and we stop taking out the lows one after another...I'll just short the tops. Those are easy to see. Bottoms are not! I don't care about catching the bottom, it's too deadly. Nothing but air below on so many stocks and indexes unless 1997 support stll matters!. I'd rather buy on a pullback after the bottom is in. REALLY in <g>