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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Mike M who wrote (5043)	8/10/2002 3:49:43 PM
From: Jeff	Read Replies (4) \| Respond to of 30712

on a retest of the pierce and sucker run in question the retest should be a higher low or i won't believe it....if it makes a lower low i just look for another sucker run.... i thought you were suggesting that just because one index pierces and the others don't that then that pierce has no meaning according to dow theory..... anyway....if thats the case.....i refer you back to the breaking of a major bottom once called the sept lows..... heres the schedule again..... NDX pierced first on june 12.....then NASDAQ on june 26.....the SPX on july 3.....then DOW on july 19.... i bet all those bagholders who bought the sept retest thinking it was just a bottom test then ramp into a new bull.....well....i bet they wished they had seen that NDX pierce.....and for those who saw it and ignored it because the others weren't "playing" along.....well.....they too became bagholders.... anyway....theres no set time for sucker runs....days to a few weeks will do..... the NDX june sucker run was 4 days and went from 1079-1163 so far the august 5th pierce is 4 days and has gone from 856-953..... maybe its over already....if it is nasdaq is next up for new lows per the june schedule..... but of course they got that fed b.s this week....so maybe they stretch the sucker run out more since they have the bulls all lathered up again and they can smell more dumb money thinking they are missing the bottom again..... but so far....this was just another options painted ramp like all the others.....i even made a post last week about how they beat CSCO with an ugly stick to get to lowside max.....then they ramped it up to max when nasdaq was around 1270.....and now they extended it some toward high side max...... so last week was nothing more than lowside to max to highside.....the options ping pong effect..... they have folks talking bottom is in again....calling for another sept like rally.....weekend tv bullish as heck.... and so far this whole run up was paint for options....along the way they squeeze shorts and add bagholders.... and behind all the paint....all the smoke and mirrors that always comes for options ramps..... on aug 5th the NDX pierced the july lows.....folks who ignored the june 12th pierce got crushed..... i suspect it happens again.....