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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?


To: russwinter who wrote (44801)11/5/2005 10:30:14 AM
From: Mr.Creosote  Read Replies (1) | Respond to of 110194
 
>>a raid to hit buy stops ... then walk away, brutal stuff.

We will see. I say we at least test the highs or even exceed them by thanksgiving. The market will likely be supported by the "buy the dip" traders that are still sitting out. We cannot underestimate the power of "fear" that managers feel of missing out the "end-of-year" rally. Think of the poor soul at the end of the year who has to explain why he under-performed the market while his colleagues matched or out-performed. It's a nightmare scenario for them. Going down with the market is not a problem but NOT going up with the market is.

Also, the reason the NAZ has been jammed here is because of its higher volatility. Why bother with the Dow if we can make a lot more with the NAZ.

One more thing: "Transports" How do you explain this one? This kind of price action isn't consistent at all with the bearish position.

I think we are in the midst of a flagpole that will carry to higher highs. But it should happen by thanksgiving.