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 : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (19615)	9/28/2002 2:44:53 PM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 36161

Dow 2700, are you in the optimists camp? ROFL. That's a S/R line starting at the high od 1929. A retest of the last secular horizontal trading range has been observed before. A retest of the highs of 1950-1970 could even bee considered as optimistic (bear rallies trend to overshoot as bull rallies do).I don't think we are going to that extreme though. If we except 1932 the Dow has found some resutamce at the 17 years moving average (1/4th of the longwave cycle) which will be 6000-7000 when we reach it. OTOH, there is such a fatalistic bearish complacency currently that I remember that same extreme sentiment in the years of the bubble. Watch the tape, trade the tape, and don't try to guess the market's moves: watch them.