Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: NOW who wrote (50421)	8/17/2002 8:13:46 AM
From: AllansAlias	Read Replies (2) \| Respond to of 209892

"If on the other hand, we just meltup to SPX 980, which I think is the bearish scenario in the timeframe I am talking, then I do not think it is sustainable and I see the entire market heading back to new lows" Can you explain this further? WHy exactly should THAt be so? First of all, such a sharp rally is more likely a bear market rally. Imv, a short should distrust the spikes and fear the slow grind. Second, it would make a nice corrective structure. Third, it would target nearly perfectly a quick backtest/overthrow of the H&S that everyone is watching. Fourth, it would cement bullish sentiment far too quickly.

To: NOW who wrote (50421)	8/17/2002 8:53:45 AM
From: AllansAlias	Read Replies (2) \| Respond to of 209892

I have to laugh on all the discussion taking place about economic indicators, double-dip, and so on. The market always leads. If equities are going up, I really don't give a rat's ass what the lagging economic indicators are. Soon after we had the GDP revisions, which was TERRIBLE news if you'll recall, I said that the bulls would begin to make the following argument: "The market was right, there was no recovery. Now, the market is right again and will forecast recovery." I just don't know yet what the market is telling us, but I do know that it can rally nearly forever in the face of bad news. One only needs to remember that one of the most magnificent Dow runs of all time (+500%) happened during 5 years of the Great Depression. That run was born in the depths of oversold on the yearly like we have never seen, but so what. The previous decline, from 1929-1932 was forecasting the tough years to come.