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

To: baggo who wrote (14473)	11/10/2002 11:14:28 AM
From: LTK007	Respond to of 30712

Tell you truth "BAG" i don't make my decisions on anyone or judge them wrong if not patently absurd.. Hayes may or may not be right. But i am saying we now have massive resistance between 1420 and 1396. I had written and charted(i will dig it out later) that we needed a failure between 1421 and 1396 and that failure has occurred. We now have a large group of bagholders between 1421 and 1396. To the consternation of some i do not chart by cycle theory. I go with Don Sew who once wrote that beyond 30days your accuracy diminishes. I see only one reason for 1600 occurring and it has zero to do with cycle theory but instead "lunacy". Quite frankly when i see certain people start pounding these high numbers i realize they can only happen if traders of the market are determined to bankrupt LTBHers by bizarre nintendo game(specifically in techs,which are a DEAD sector, but the remnants of tech hallucination still remain) runs based on nothing but greed and frenzy to force the market up and then sell like hell. There is a lot of Buffet in me, and if that ain't cool; that is unfortunate. i will live with it:) I will be simplistic, i will simply state i concur with those that this market can not have it's final bottom until people finally realize the tech sector is DEAD, it is over, its fair value 700 at best. The failure between 1421 and 1396 last week indicates that the effervescent cyclist and those many now calling for a big run(because they want it, and they salivate at the thought; and they have a blind faith that historical P/Es have ZERO to do with TA), are not going to have there way. If my resistance is smashed i will tip my hat to those who are thinking "lunacy" will reign supreme, and say you were right and then short the mountain top and watch a massive crash and burn..Max