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

To: Techplayer who wrote (11317)	11/5/2002 6:22:07 PM
From: Jorj X Mckie	Read Replies (3) \| Respond to of 57110

well, as your broker will explain to you about the risk with shorting, your losses are theoretically infinite. Of course, that means that if you are long, your potential gains are theoretically infinite. Therefore, there is plenty of room to the upside on the BKX.<GGG> My interpretation of the chart is that we have seen the top, but that we may take a day or two to start dropping. The move from the July bottom to the August top was 22 market days. Depending on where you start the count from, today is either the 20th or 22nd market day from the October bottom. I am using Oct 7 as the bottom and not the 10th. The reason for that is that it was really the end of the climactic 4 days of selling. The 10th was just backing and filling. I'm only applying this to the BKX at this point.