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

To: mishedlo who wrote (57100)	10/19/2002 6:16:52 PM
From: UnBelievable	Respond to of 209892

Patience Grasshopper No one has repealed the law of gravity (try though they might) and therefore, contrary to popular opinion, the sky is falling. Everything comes to those who wait.

To: mishedlo who wrote (57100)	10/20/2002 12:31:05 PM
From: Shack	Read Replies (3) \| Respond to of 209892

Good post from my favourite cynic.-g Seriously though, your post highlights many of the the same (and very valid) issues that have plagued the economy and the markets since 1998 and are many of the same reasons I have had trouble sleeping with long positions since 2000. But as a trader sometimes you just have to hold your nose and buy. I have missed way too any bear rallies this way. As for buying the coming dip, well there are of course a myriad of e-wave counts but one thing that is near certain is a launch off the lows like we've seen will have some kind of secondary rally. Could we just turn down from here? Sure we could. But I think the trick here is that I the first wave of the launch ended with the volume explosion at the open on the 15th. Too many e-wavers ignore volume in their analysis IMO. Even though we have been making slightly higher highs ever since, it looks like a sideways consolidation to me since then and has been on declining volume. So believe it or not, I think the "pullback" is nearly done in terms of time. We should finish the 'b' up on Monday and then we will get a very quick and scary looking 'c' down and we will resume our upwards march no later than Wednesday. then gap down lock limit the next day How long has it been since we had one of these? How they have kept that from happening is anyone's guess but I think we will see them yet.