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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Win-Lose-Draw who wrote (12239)	10/25/2002 5:09:46 PM
From: augieboo	Read Replies (1) \| Respond to of 30712

WLD, I'm sorry, I didn't mean to imply that anyone here followed anything blindly, and I don't blame anyone but myself for my current predicament. But I think there is always the danger of getting so comfortable with the whole retrace concept that we let our guards down and don't really think things through carefully enough. I see my own complacency as one of the contributing factors leading to my current situation, and I wanted to warn everybody else about making the same type of stupid -- and costly -- mistakes.

To: Win-Lose-Draw who wrote (12239)	10/25/2002 6:17:10 PM
From: LTK007	Respond to of 30712

<<i ignored one of my most reliable indicators on account of i suddenly "knew better".>> that is good solid trader honesty, WLD. I don't know which indicator you mean specifically, but i know you be strong in warning against the E-Quotient(The Emotional Quotient). This rally at every decision point has made a bulldozer move, without exception and without ANY rational basis. The crowd is biting ticker action at MANIA levels(the crowd INCLUDES my broker who is wetting himself he is SO JOYOUS at the return of the BULL- also pouring in his client's money as fast as he can).This causes the Red Flag Warning to shorts to be run up, and to the longs to hold and ride but PAY Attention for a momentum reversal(these periods of action can change the overall course of this retrace at anytime,imo) We have not had any indication of a momentum reversal thus far. We needed a decisive( and i mean decisive) follow up today, and when it started to ride up from 964 on NDX the was a bad bad sign for shorts . Hey, Darrell(BigDog) you may be right, let's see what happens after election day:) The upside potential remains 1426 to 1450 area on COMPX. And IF it blows through that we have entered in a frenzy that will lead to a truly catastrophic zone(for the longterm health of the market place). What do i mean by that? In 1999 late November i decided to against my EVERY belief to simply ride this insane monster up on the buyside until it quit(which i did to 4/7/2002). But i was also a wailing Casandra saying the higher this goes the resultant aftermath will be worse than anyone can even begin to fathom, it will be a horror. I repeat the same view now, such i now say the higher we go now the LOWER our FINAL RETRACE will be(i firmly believe all WS and it's partner, the Fed, does to prop and re-inflate this market is making the future forever worse looking in my eyes.). Let's see we are getting very close to SPX P/Es that we had in March2000 and also ZERO indication of any significant growth that can remotely justify these P/Es. (GDP is a crock at times like this,imo). Golly, ,Smells Like Teen Spirit To Me. Max