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

To: Jorj X Mckie who wrote (11026)	11/1/2002 1:51:44 PM
From: quote 007	Read Replies (2) \| Respond to of 57110

i understand--but do you have any reason to believe that this rally won't continue for a while==or are you just being stubborn?--

To: Jorj X Mckie who wrote (11026)	11/1/2002 1:52:08 PM
From: mishedlo	Read Replies (1) \| Respond to of 57110

Right now there is no short term trend IMO (other than naz garbage stuuff below 5-6 bucks is running like mad). Otherwise, almost every stock, one by one runs up to resistance and either stalls or drops a bit, then we repeat. I hope to F we are right cause I am nuclear short right now. IMO the longer this continues, the steeper the ultimate drop (IF we are correct in that this is massive distribution). I believe it is, but like you I am not exactly happy with how things have playeed out. A few stocks like GT have helped me keep my sanity but onece again IBM is kicking my ass. M

To: Jorj X Mckie who wrote (11026)	11/1/2002 2:02:32 PM
From: Lazarus_Long	Read Replies (2) \| Respond to of 57110

You could turn out to be right, at least short term, even if a new bull has started. It's about time for a reaction against this rally. It could be short though. This rally is only 17 days old and already is rounding. The drop into it started in early March and was almost continuous until mid-July. But as SusieQ said, it could break out either way. The market impresses me like it is waiting for some significant news to kick it one way or the other. VIX is still fairly high, though. I'd say that a reaction is due with a lot more confidence if it were 22 instead of 34. BWDIK?