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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (38895)	2/19/2003 9:52:21 AM
From: Logain Ablar	Read Replies (1) \| Respond to of 71338

Hi Harry: If your long I would consider it wise to have tight stops in place right below supports. The volume of the past few days has been low and this still smells like a trap. I'm not saying the 1260 area can't be a successful retest of the oct lows BUT I highly doubt it. The BP's (bullish percents) can turn up from here as they've come down to decent levels but the bottoms are usually in the low 30's or lower and as of last weekend we are not there yet. One point thought is the NAZ is performing better than the s&P and dow. Personally the way I'm trying to play this is to focus on a few down trodden stocks and when the market really PUKES jump on for decent % gains. Of course this is also a high risk proposition.