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

To: Shack who wrote (56505)	10/15/2002 1:16:59 PM
From: At_The_Ask	Read Replies (1) \| Respond to of 209892

Well I just got another third of my ultimate position in puts. I think a move of this power is bound to wedge out and drop. We may be still in the third wave with four and five to come. I'll probably pick up the last third tomorrow and stop out by monday if it gets much higher or just holds up. I'm guesstimating maybe another 20 ndx pts further upside. ATA@bearklown.com

To: Shack who wrote (56505)	10/15/2002 1:41:38 PM
From: nspolar	Read Replies (1) \| Respond to of 209892

[So you think this phase of the bear is done then?] I'm leaning that way heavily, for the comp at least. Would it be stupid to think that the comp will go into a huge drawn out ABC here? The B down would likely occur somewhat on schedule with a 3 down in the DOW and S&P. I must admit I got messed up counting on the way down this time around, and thought the end of the 3 was it (as did a lot of other folks). I should have counted better and I went too heavily long at that point. It hurt. So now I'm being more careful, even though I'm still focusing on an IT strategy. I don't know which is best, as for strategy. I've done very well this year, thanks to PM's. However it was my IT strategy that got me heavily involved. Appears to me that the current market is rough to handle for most steady traders. Very rough. Only a few can stick with it. Since I can not ST trade, due to lifestyle, I'm sticking with what I can do. Assuming it goes as I have it EW'd (which it doesn't have to), I'm working tech for longs at the moment, primarily. A little further out PM's for longs, and just a tad beyond that shorts and puts. Will roll from one into the next gradually. I think the next major wave down in the DOW will be a real killer. 5000 pointer maybe but when? As for bearishness I tend to think maybe there is a tad too much focus on absolute values of peaks/troughs. There is also such a thing as an integral above/below the neutral point. The integral includes time and values, and all summed I'd say there has been a fair amount of wringing done over the last several months.