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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (5212)	4/2/2009 3:26:03 PM
From: Dale Baker	Read Replies (1) \| Respond to of 6370

A market that doesn't get back to 15-handles on the Dow and SPX would still be a secular shift, even if it recovers somewhat to 9-handles. It certainly looks like most of the sellers are done, and a bid is coming back in for a wide range of stocks.

To: Bill Wexler who wrote (5212)	4/2/2009 4:57:30 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

As the market continues to trade regardless of fundamentals some measuring is perhaps approbiate. As it took lower old support levels, 732 (76.4%), 775, 807, and now 840 the 880 test is in sight, its less than 5% to go. After that it becomes hairy. it would meet the years high, 945 and the long term resistance somewhere in late May 2009 (after 10-Ks are filed, read and understood by people, or not). Still possible that stocks run up into banks´earnings (also due april) and then they peter off as people realize that those earnings are perhaps of low quality.