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

To: NOW who wrote (50829)	8/20/2002 11:11:01 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 209892

<<"The last major countertrend rally of a cyclical bear market is always the most convincing>> So this is the last one? Thank god, these sumbitches are gonna KILL me!<G> And Tip and MythMan are convinced, so he MUST be right!<G>

To: NOW who wrote (50829)	8/20/2002 11:58:49 PM
From: AllansAlias	Read Replies (2) \| Respond to of 209892

Fwiw, I think the most likely scenario for the coming days to weeks is this: I expect tomorrow to be down into the afternoon. I think we then turn up and pop into Thursday/Friday. This pullback will be too shallow to allow for shorts to get a graceful exit and the squeeze will be on once more. This is tricky I admit, because I am looking for a better short entry for tech. If tomorrow's down is abrupt, then I will re-think this, but as it stands now, I expect it to be mild and that I will be long tech from tomorrow for a wiggle long into Thu/Fri. If we do turn in the afternoon, I expect to exit all remaining tech shorts for the loss that it will be. I would look to re-establish these shorts after we squeeze some more. My roadmap would then see us heading down into about Sep 9-11, but this will be a trap for another nice up leg. This down into the early Sep low could see a new low in tech, but my confidence there has dropped to, oh, only 65% or so. Financials remain for me the wildcard. They have come back so hard that they are the charts that arouse the bear in me, but it is not enough for me to want to short. I have had no interest in shorting non-tech since the 24th and I still have little interest (talk to me Friday/Monday though -g/ng).