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

To: AllansAlias who wrote (46125)	7/17/2002 11:43:40 PM
From: ajtj99	Respond to of 209892

AA, looking at charts tonight, I think your wiggle long might see COMP 1484. COMP 1450 seems pretty good odds right now. I also think that stupid action Monday qualifies as a re-test on the Nasdaq, as bad as it was with the COMP making a new lower low.

To: AllansAlias who wrote (46125)	7/17/2002 11:46:10 PM
From: UnBelievable	Respond to of 209892

A Rope-a-dope Strategy "The stock market exploded higher at the start of trading today. The DJIA was up by more than 240 points within the first 30 minutes of trading. Then, a steady drumbeat of selling pummeled the major market averages for most of the rest of the day. The selling pressure was relentless, until the last hour of trading. The stock market rallied and closed in positive territory for the first time in the last eight sessions. The bears didn't have enough energy left to break the market down at the end of the day. This game plan by the bulls absolutely reminded me of Mohammed Ali's rope-a-dope strategy. Ali would allow George Foreman or Sonny Liston to punch him relentlessly in the early rounds of a fight. He would lean back against the ropes and keep his guard up to absorb the blows. No serious damage was done. But, Foreman and Liston ended up punching themselves into a weakened condition. Their arms became heavy from the assault. Then, in the later rounds of the fight, Ali would stop the rope-a-dope game and launch his own offensive with fresh arms. It worked time and time again. If this analogy is an accurate assessment of the stock market dynamics, the last two days of the “options expiration week fight” will be won by the bulls. Next week is another story." hahnscorner.com MSFT reports after the close tomorrow. Should be enough to get us through the week.