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

To: Alan Bell who wrote (30022)	5/28/2003 11:35:54 PM
From: Lone Ranger	Read Replies (1) \| Respond to of 30712

AB, "a major correction can mean 3% or 15%." I'm not sure. But we can do the math. The sp500 is up, from the March 11 low of 800 or so. It closed today at 953 plus change. So let's round it to a 20% gain. A significant correction imo would be 10%, or so, Don's lowered his Tsunami signal to a 12% correction last I heard. I think that ball park qualifies. But I think we need to look at how the market acts. If the bull trend is strong and buyers step up to the plate earlier than that so be it, if not so be it also. We've had a couple of single days of fairly large sell offs but then buyers rapidly stepped up. I need to see a series of large sell offs, at least two<g>, to convince me the short term tend has changed again. So far the usual indicators have not been too helpful. "what are you looking at? And how does this fit in with the renewed buy the dip mentality?" I like to read the news links and chart links thread: Subject 25738 I also have a few paid subscriptions which I pay attention to. The good posters here have been quite helpful also. However many have missed this material rally. So far Jeff has been right on in calling the turns. No ones right all the time, that's why I like to hear lots of views. But imo opinion, you need to find what works for you, and never let a loss get out of hand.

To: Alan Bell who wrote (30022)	5/30/2003 10:55:53 AM
From: Lone Ranger	Read Replies (1) \| Respond to of 30712

AB, This is what I was referring to on my last post to you. If the market finishes like it has started today, its further evidence of a bullish trend change which started early March. Give this market one down day, then watch out, hope for the bears to hold on, when the next day rallies and rebounds to higher highs. In this market what once worked in a bear trend won't work in a bull trend. Even my sources were indicating a possible correction but once again in a bull trend most news ends up bullish and bearish news is discounted. Amazing how many people have been caught TOTALLY surprised by the strength of this cyclical bull, including myself<gg>. What a market!! Of course all the fore going is dependent upon a close somewhere near the high<gg>.