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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?


To: quote 007 who wrote (6995)10/15/2002 3:00:35 PM
From: Petrol  Read Replies (1) | Respond to of 57110
 
Message 18116071



To: quote 007 who wrote (6995)10/15/2002 3:03:12 PM
From: gypsees  Read Replies (1) | Respond to of 57110
 
Thats why I'm wondering if it isn't mostly short covering.. who else buys at new highs? Not sure what the heck is going on but I played it safe and shorted qqq.



To: quote 007 who wrote (6995)10/15/2002 3:03:29 PM
From: Eva  Respond to of 57110
 
I have been in and out today and I am glad, I agree with you!
Staying short!
Next appointment coming up, not to soon, I can't stand this action, it was decided in the first 30 min. hopefully it get's diluted in the last 30 min.
cheers
Eva



To: quote 007 who wrote (6995)10/15/2002 3:03:47 PM
From: Jorj X Mckie  Respond to of 57110
 
I don't think that it is supposed to make much sense.

As shack's post said, this is a classic bear market rally. I believe that this is akin to the March rally. I think we revisit the recent lows in one month's time and set new lows in December.

CNBS trotting out the bulls to keep the froth flowing. All we need now is AJC to confirm the move.



To: quote 007 who wrote (6995)10/15/2002 3:08:58 PM
From: bramble88  Respond to of 57110
 
amazed that this thing can go straight up like this

May be much heavier short covering -all these instances of people on this thread all of the sudden having difficulties getting shares to short could have something to do with it..

Some characteristics of turning points as well as up and down price movements will likely be changing if shorting is becoming more popular. It could make charts more difficult to interpret; or easier -not yet sure which.