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

To: j g cordes who wrote (17328)	3/3/1999 4:23:00 AM
From: Patrick Slevin	Respond to of 44573

It was the severity of the late decline that spooked me. A market starting hot out of the box and collapsing late is the mark of a Bear market and not a Bull one. So the effect was to put my bullish posture somewhat on hold. Normally, when you see the market up most of the day and failing at the end you still have even just a slight edge to Advancers over Decliners but not so yesterday. I did not notice that Transports were up which is a positive sign, I agree, but they have a long way to go to get back to last summer's High. There is so much compression that one would have to expect it to bust a move and I would like to think that it is up. I think many are getting emotional at the edges of these ranges because it's getting on the nerves. People are quick to point out that so many on SI are Bullish or Bearish at these extremes. I've been ignoring that because I think people are prone to wishing to get the issue over with. When you say there is a temp move up it makes me even more cautious because because a piece by piece decline is even more difficult on people. Cut it back, bring it up but not as high then cut back again a little lower -- repeat that often enough and before you know it we will all be worn out.