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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (74527)	5/24/2003 5:22:44 PM
From: Paul Shread	Read Replies (1) \| Respond to of 209892

Justa, Lowry's contention is that that last 90% upside day does not have to be reversed because they already got 90% downside and upside days close together. It was more hesitance or second thoughts on the part of buyers in their view. That said, I don't know what their current view is, whether it concerns them that the market hasn't gained all that much since that first buy signal, at least not the blue chips. They were vocally bullish for a while, expecting the August/December highs to be taken out, but I haven't heard their larger view in a while. They may still have the same view, because last I knew they were looking for only a shallow pullback.