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

To: Shack who wrote (57685)	10/24/2002 7:39:55 PM
From: mishedlo	Read Replies (1) \| Respond to of 209892

The gap down occurs AFTER the distribution is complete. Until then we grind around. I think we might have had a blowoff top today. But who knows. Look at crap like CREE. But, We could grind around for more days in the manner you suggest if it was not completed. If ultimate distribution is the goal then this is going to get very ugly. This could be just a "restocking" phase prior to the ultimate distribution. In either case I think we see 2-3 days of down starting today. If some kind of really bad news hits we are going to totally collapse afer this rap job. Nothing but air underneath it. Still sticking with one more rally, but it should not exceed today by much of anything if it even gets that far. The only open question are how low we get in the meantime, and whether or not a rally of any kind before a deep retrenchent is made. M