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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Blacksmith who wrote (17847)	10/1/1998 3:18:00 PM
From: space cadet	Read Replies (2) \| Respond to of 69831

Hi Clint and RJH, I kind of agree with both of you. Clint I know very well the recovery in January. It saved my skin as I was almost dead going in to January. And I too feel like something like that is the most likely outcome. Still we didn't have the same dreadful worries then. Back in Jan it was just the asian contagion while now we have a)lousy earnings for some blue chips, b)europe looks weak, c) latin america-brazil teetering on the brink, d)no recovery in asia or japan, e)perhaps most scary-the dumb hedge fund problem. These funds should be making trillions of dollars here, finally, when the market is going down but they apparently are not. This list is much longer than in January and the problems look more severe. Another hedge fund going belly up and we could test 7000. Incidentally Favors just sent out an email saying that he is looking for a day or two rally as all the technical indicators are deeply oversold, and then we resume the collapse next week sometime. I do think he should be given credit for maintaining his call despite the Sept rally. And RJH, you are absolutely right-I like most people on SI have only been in the market for 3 years. I have no experience with bear markets. I know that whenever I have some learning to do marketwise it has cost me dearly that is why I am so cautious right now. I would guess that strategies that work in a bull market might not in a bear market and visa versa...