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Non-Tech : The Woodshed -- Ignore unavailable to you. Want to Upgrade?

To: jrhana who wrote (15498)	10/26/2004 7:25:49 PM
From: SwampDogg	Read Replies (3) \| Respond to of 60911

It can not keep it up. Either this was a huge consolidation and we move to above $DOW 11000 in the next 2 months or the bottom is going to fall out in the next couple of days. Based on the fact that each rally has been of lower and lower quality I have to lean towards much lower prices in the coming week or so. Take a look at key stocks like CSCO, INTC, MMM etc Each major dislocation over the last 100 years has followed a day or two like today. I am short and staying that way until the last $DOW high is taken out. I may add even more tomorrow morning if it can not rally past 9977. Today looked just plain bogus. Not much volume and stocks like AIG and FNM led the way. That is not great leadership lol

To: jrhana who wrote (15498)	10/27/2004 3:32:24 AM
From: Kailash	Respond to of 60911

Right, that's the pattern -- lower highs, lower lows, drifting down in such a way that market makers can get their cut all the way. But once the pattern has been established and everyone can see it and profit from it, that creates an incentive to break it -- the moment your behavior can be predicted, someone can start to take advantage of you. Looking at the previous turnarounds in this oscillating dow, we see they often hesitate a bit, move up and down indecisively for a few days. That implies the pattern could break, there's uncertainty. That's where we are now -- and then add the election, the uncertain outcome. Cheers, K