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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (39133)8/21/2002 11:56:03 AM
From: Paul Shread  Read Replies (5) | Respond to of 52237
 
It was also a high-volume one-day reversal, something no major bear has ever ended on, so you're missing two elements that have occurred in all major bottoms going back to at least the 1930s.

Take a look at a Dow chart from 1929-1932. All the rallies were sharp, and they all failed. The bottom came when it put in a low-volume rounding pattern. Same for 1942. 1966, 1970 and 1974 were all double bottoms - with 90% downside days before the first bottom. Major bottoms seem to all fit one of those two patterns.

Doesn't mean we haven't hit an IT bottom, but I'm having my doubts there too. Too many worried bears out there. -g-



To: Terry Whitman who wrote (39133)8/21/2002 12:27:44 PM
From: Vitas  Read Replies (1) | Respond to of 52237
 
the critical area was -80, which it broke in July

that puts us into the 1970 and 1973-1974 scenarios


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