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To: jjstingray who wrote (71990)4/24/2003 10:03:56 AM
From: The Freep  Read Replies (2) | Respond to of 209892
 
JJ -- the dow managed gains the past two days with MMM weak. And let's say that MMM has rolled over and is now in impulsive down off the top. A corrective wave 2 could bring it up to a double top, for instance, or it could rally back to backtest various breakdowns in any sharp correction. Meanwhile, what if IBM or PG broke out at the same time? Dow could easily romp higher without MMM making a new high.

While I do think MMM weakness is worth watching, I have seen too many calls of its death... and attempted to play a few of them... to pin much on it.

the freep



To: jjstingray who wrote (71990)4/24/2003 11:23:55 AM
From: Death Sphincter  Read Replies (1) | Respond to of 209892
 
i have a lot of stuff on file from over the years. it is interesting to go back into old crap and see how things played out later. April of last year I was playing with the long term upper trendline of MMM and the 'big wedge'. naturally, things rarely play out precisely as we would like, but strictly for shits and grins here was one of the broad view 'looks' from over a year ago...not that this IS the deal, but fun to look back at what one was thinking in the past

badsmells.homestead.com