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

To: lisalisalisa who wrote (47624)	7/25/2002 10:32:14 PM
From: AllansAlias	Read Replies (4) \| Respond to of 209892

This is a market-bearish post (thank you EaglePutt): If ever there were a down leg where they would give up, this is it. The Voodoo Box tells me to stay away from non-tech for short. I have said it at least 6 times in the last 24 hours. I am waiting for it to put in some jello, but I do not think the IT low is in there. To repeat from an earlier post, my confidence there is only 60-65%. Tech, well, that's another matter. Again, to reiterate from yesterday's big up day, I'd say 80-90% that another low awaits. I seem more bearish lately and I know that. For a period of about 4 weeks after I closed my big short from May, I was timid. I also tried to buy support, always for only a wiggle, at least 3 times. It's because the Voodoo Box was warning me every day that this could go either way. Now however, we are into a whole new ballgame. We have jumped through the window that was open. I know that sentiment is too bearish now. It's obvious. BUT, we are at the point where over the next few weeks we could really seize-up this mess. When I became a convert to the bear, in April of 2000, I began to read and post on the CFZ, the backwater that it is -g, and I recall that one of my earliest posts went along these lines: Eventually, this thing will throw a rod and seize-up the entire machine. I pray that I have the balls to stay a little short when it comes. This is such a time. Ask yourself: what is the alternative? Is the Dow going to just prance over that putative neckline? Are the banks going to rise magestically back into that multi-year wedge I posted. I don't think so Tim. I am not saying that the timing will be easy -- I ain't that good -- but something bad is happening and it is worth a few puts. Any fool can see that we have a ton of bottom indicators. Clowns are shorting for gawd's sake! Still, this leg won't end without a suprise imho. Price knows more than me. I won't be waxing so f*cking eloquently if the Dow punches up to 8500. -ng