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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Bull RidaH who wrote (30111)	10/4/1998 7:12:00 AM
From: donald sew	Read Replies (1) \| Respond to of 94695

David, I have turned negative to the market, believing that the probability of 7400 breaking is higher than 7400 holding. Gosh, your figures are really low. I just hope you are not correct, since I would probably have to go back to work, instead of trading for a living. ggggggggggggggggggg With those figures of yours producing a grinding BEAR MARKET will be very hard to trade, and very few will make money. seeya

To: Bull RidaH who wrote (30111)	10/4/1998 10:01:00 PM
From: Thomas C (Hijacked)	Read Replies (1) \| Respond to of 94695

David P, EXCELLENT post...I am glad to see that we are on the same wavelength. I, and probably you and others on this thread are included in a rare group who believe that market panics and crashes are a necessary function of economics. Not something that should be permanently prevented. A huge source of innovation has always resulted from bear markets and crashes. The economic cycle LIVES! With regard to the downtrend lines I was talking about, I will post something up on tripod within the hour...It's not anything really complicated, but just helps clarify the pattern similarity between 1929 and 1998. The one thing that is definitely different about this 1998 pattern is that it is taking a lot longer to complete each leg. This leads me to believe that there is a good chance that the panic cycle, if it happens will be drawn out a bit longer but still lead to the same result. How much longer? Maybe twice as long as the previous panic... The one question I have which some may not have considered here is how are we going to get out of our positions if we have a 2.4-5.0 billion share day??? The one alternative strategy I have is either to set a limit price ahead of time which can be hard to estimate, or to wait a few days for the retest where volume should correspondingly come down... Regards, Tom