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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host -- Ignore unavailable to you. Want to Upgrade?

To: sea_biscuit who wrote (1938)	10/30/1997 4:28:00 AM
From: Greg Luke	Read Replies (1) \| Respond to of 42834

If you take the contrarian view, with all the pundits saying the market will "test new lows"....ie, a bearish prediction, I am inclined to believe the fundamentals will push things in the opposite direction. After all, lots of good news has come out lately and largely ignored by the market. Even Dr. Greenshades remarks didn't awaken the bulls. In a volatile market, it looks like we will see the rapid upswing on Thursday, and then...when people are least looking for it, the market will go back and test the lows. "Testing the lows" can have more than one scenerio, and BB was pretty vague on timing of the test. We all know the proverbial "plus or minus 5% at anytime" rule. The market seems to be a setup for a 5% jump up on Thursday. The public will hop on the band wagon on the way up, and the pros will sell high. This will create a free fall and a "real" test of the previous lows on Friday or Monday. Face it, technology stocks have real value and real momentum. Keep a tight stop order just under the market to take advantage of the ups and keep from getting caught in the shower when the market suddenly drops. ps. I did the same thing...I called it my $1000 shower...On tuesday Intel jumped 2 points while I was in the shower. Scary but fun times in the market these days. Luke