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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Tom Swift who wrote (279936)	3/12/2004 1:52:34 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 436258

If it does play out that way it will be a 'stealth' bear flag just over a test of bottom. The 'stealth' component is that some will look at only the recent low and conclude "double bottom"; sellers will watch the volume and may concluded otherwise. I like the stealth... higher probability and generally a quick reward if triggered. If triggered to the down side these generally move very quickly - first target would be the test (if it manages to get up above it) and then the prior swing low. Bonds are breaking down out of a wedge, perhaps they will buy this one up just the same. Tepid action so far must be as a result of some caution out there... not wanting to be caught with fresh exposure over the weekend with bombings about. On the other hand, I suppose statistically (guessing from memory here) its been shown that a) another event rarely happens over the weekend following and b) a relief rally is likely to follow. I'm doing nothing on either side right now. Scalps over, a good week behind us, no need to chuck any of it away on a bet.