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: John Madarasz who wrote (50539)	8/17/2002 1:09:34 PM
From: illyia	Respond to of 209892

That was awfully good stuff. Thank you. Illyia (Also interested in continuing thoughts on this.)

To: John Madarasz who wrote (50539)	8/17/2002 2:45:59 PM
From: SirRealist	Read Replies (1) \| Respond to of 209892

I'm not looking for an 'explosion' to the upside, but have seen, in the past, upside breaches of channels and TA indicators just before a pullback. Just enough to get folks to say "hey, look, this is more bullish, we broke resistance, get on board" before a dumpoff. Such a breach, followed by a significant pullback, generally paves the way for a nicer rally to follow that dip. So it's possible we have 1 to 3 days left in this climb, imo. But it's always hardest to call right at perceived reversal points. I carried some long into Monday, mainly because the TA has created so much certainty of a pullback.

To: John Madarasz who wrote (50539)	8/17/2002 4:18:31 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

Not bad, John, for a ‘stream of consciousness’… I’ve tried to do some of that yesterday in a post. Pasting here: “With this recent advance, it seems that we are dealing with a different kind of an animal. That’s why there is more confusion. The rallies out of Christmas 2000, out of April 2001 and Sept. 2001, were kind of pretty, with a strong move up, then a nice slowly rounding top, and than a gradual acceleration into a new low. This current rally is more sharp-edged, sort of harsh and ugly… Hope we don’t have to start getting used to them. On the other hand, they would be more 'Elliottian', in a sense. “ If you look at a daily chart of the DOW in 1930-32, there were several rallies then, lasting from a couple of weeks to over 2 months, which, at least to this observer, were ‘esthetically’ very reminiscent of this current advance. They were sharp and angular, some were flats, some complex. Looking at them, I think it would have been be extremely difficult at any given time during those rallies to identify final tops. Probably impossible. This is why recently I have been mentioning waiting for a break of an important support line to signify an end to such a rally. Taking it a little further, the DOW and the broader markets just recently broke important supports, like the neckline on the SP500 multi-year H@S. Would it be surprising if the Bear at this point would decide to change the “look” of the corrections? The Nasdaq in the end is only a big sector. Perhaps now, when the decline broadens, and when it threatens to hit closer to home, the character of the countertrend rallies MUST change. All this is just an impressionist bunch of stuff, and fwiw, of course. One of the better daily charts I found via google turned out to be on Paul’s web site cache.wsrn.com AA has a good weekly geocities.com But to see it better you need one which is detailed, or a PDF (?) with the zoom feature. Maybe someone can post.