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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: James F. Hopkins who wrote (14882)	10/29/2002 4:25:35 PM
From: J.T.	Read Replies (1) \| Respond to of 19219

The jury is still out, after a brief rally in OCT of 74 the market went on to make a new Low, Dec 16th of that year. You have missed my point. The market action is very similar (not exact) within these two time parameters: Oct - Dec 1974 = July - October 2002 What's the point about using 74 ? why not 87 the market crashed harder in 87. In 1987 there was no massive accumulation by the NYSE Members. In 1974 there was major NYSE member accumulation. 2002 Massive accumulation dwarfs 1974 action. 2002 also has the public shorting above the NYSE Members like never before. This rarely ever happens. This never happened once in 1974. if short sales did peak in OCT of 74, that wasn't the bottom many must have covered on the run up, and not been short when the bottom really did come, in Dec. NOPE. It means the inmates were SHORTING AT THE BOTTOM expecting the market to go lower. The market melted up in the first half of 1975. The inmates got crushed. The economy in the second half of 1974 was MUCH WORSE than today. Short Bagholders at the bottom - Just like long bagholders at the top. Best regards, J.T.