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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (11898)	1/6/1999 1:18:00 PM
From: SE	Read Replies (2) \| Respond to of 44573

You know, OJ, I think a 300 to 400 point quick drop is probably necessary. Maybe a bit more. Just seems to me that this run here is to get everyone on the bull side. Blow out the stops and climb aboard. Now that everyone should be on board, time to rock the ship, tank it a bit to shake people up? "OK, so maybe the breakout is not for real" type talk....and then, the real breakout....the BSB, the run to the stars, the blow-off top...whatever name you want to call it. I just cannot shake the feeling that we have to tank hard at least once before rocketship in action.

To: Jerry Olson who wrote (11898)	1/6/1999 1:58:00 PM
From: The Jedi	Read Replies (1) \| Respond to of 44573

Cycles call for a low in Jan 7 to 11 area. So we may see a pullback, but I have never seen a pullback of 300-400 at the top. If you look at breakouts with broad market participating it is a run for the skies. The people who missed the boat are going to look for a big pullback and that will not happen, market accomodates only a few not the many. Remember some time back the pits were looking for a pullback to the low 1100 or something, well we are 100+ points above that. Everybody is scared at these heights, so am I. My guess is that we pullback to test the resistance so as to make it a support. Kiri.