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Strategies & Market Trends : SPARKY'S CORNER -- Ignore unavailable to you. Want to Upgrade?

To: Walk Softly who wrote (3582)9/2/1998 11:17:00 AM
From: James Wright  Read Replies (1) | Respond to of 4142
 
"all the stuff I'm shorting looks sick.... bumping right up against resistance right on schedule."

That's exactly what I'm seeing also this morning with EGRP and QWST. I'm maintaining those short positions because I think we are in a sucker's (aka dead cat bounce) rally. If they rise above resistance, I'll cover.

Typically after a steep sell off, the market recovers about 60% before the next leg down. That's what I think is happening now, and you are correct -- we are right on schedule.

-- Jim



To: Walk Softly who wrote (3582)9/2/1998 4:09:00 PM
From: Sparky Beardslee  Read Replies (1) | Respond to of 4142
 
ES: I agree with you, however, my horizon was shorter than yours. I think we should and will re-test lows, and even break 7500. The recent vol. was was sure to tire and thus the sell-off at the close. My NRVH was up as it approaches it's ma's.

Sparky


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