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

To: At_The_Ask who wrote (55168)	10/2/2002 2:57:42 PM
From: ajtj99	Read Replies (2) \| Respond to of 209892

I think lots of people are jumping to conclusions before even a 50% re-trace of the move up has been completed. I agree it looks bleak for more up here, but until a 50% re-trace is done, there may be whipsaws. All we've done on the COMP and NDX are .382 re-traces.

To: At_The_Ask who wrote (55168)	10/2/2002 3:02:07 PM
From: The Freep	Respond to of 209892

No one knows what's gonna happen tomorrow, for sure, but my premise has simply been that news flow is bad, and there's no reason to think that changes. Yesterday's Iraq news was squelched by the US response. Dell's good for dell news has been, overall, met with a yawn. Tomorrow and Friday we've got econ reports/job stuff galore. Also, remember, the dock workers are on strike/locked out/walking out. . . supposedly to the tune of $1 billion a day in economic loss. Yes, Taft Hartley might come into play putting them back on the docks, but there's been some econ damage already. Personally, I have weathered some gap ups the past few times I've been short a bunch (like now). I get stopped out intraday sometimes, but I try to re-enter most of my stuff by the close unless price action HUGELY tells me not to. And finally, I think this period of bad news flow will pass pretty soon -- warnings season and earnings will be over this month, by and large, and so on. There. I've said it. <g> the freep