Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: quote 007 who wrote (11027)	11/1/2002 1:57:14 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 57110

We have multiple indices that have broken down out of ascending wedges and are in the process of rolling over. We have the dollar breaking down out of a bear flag We have the BPNDX up against a descending trendline We have strong indications that this week's action was strong distribution with the tick and trin action. that's off the top of my head

To: quote 007 who wrote (11027)	11/1/2002 2:01:52 PM
From: mishedlo	Read Replies (1) \| 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?-- Velo Jori Shack and others all say down. Velo is not a perma bear by any means. He was long for the the beginning of the ramp, a few weeks ago, went neutral, and is now bearish. The chart patterns are bearish, the internals are bearish, and in spite of numerous +1200 tick counts the S&P has been flopping around in a tight range for almost a week. Does this seem bullish? Stochastics have been pinned to the top for 2 weeks. By any stretch, this rally is way way way overextended. But yes, it could in theory go on for another month. But unless there are fund inflows, with cash levels low in most MUFUs, once profit taking starts it could accelerate quickly down as there is nothing but air under us for about 500 Dow points and at least 50-60 S&P points. M