Re: [RT] Re: chart formations

["Dom Perrino" <domenick@xxxxxxxxxxxx>]

Ira, I agree with everything you said and I believe 
it was your post that gave me that thought I referred to .
Dom
<BLOCKQUOTE 
style="BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-RIGHT: 0px">
  ----- Original Message ----- 
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
  Ira Tunik 
  To: <A 
  href="mailto:realtraders@xxxxxxxxxxx"; 
  title=realtraders@xxxxxxxxxxx>realtraders@xxxxxxxxxxx 
  Sent: Sunday, October 15, 2000 10:22 
  AM
  Subject: Re: [RT] Re: chart 
  formations
  Dom: 
  This is one of the reasons that I repeat the point that an opinion is not 
  something to have while trading.  You should be like a counter puncher in 
  boxing.  The market tells you what it is doing, based upon your 
  system  analysis, and you react to it.  There are violent up moves 
  in bear markets and knee jerk down moves in bull markets.  It is the 
  ability to TRADE in both directions that allows one to be successful on a 
  continuous basis.  The ability to trade both directions, as well as have 
  strategies to trade sideways markets, allows a trader to be versatile in what 
  he trades and provides a greater opportunity for profit.  Ira. 
  Dom Perrino wrote: 
  
    
    We now are at a critical point in the 
    market.Since I was out most of the week, I spent some time reading the 
    postings. One post reminded me of an old saying I used to use when someone 
    was learning technical analysis and that is "to participate rather than 
    anticipate" . We have to do our homework and figure where we think the 
    market is going.But then we have to be flexible and let the market do the 
    talking.The reason I mention this at this time is that regardless of whether 
    we are in a bear market or bull market , there are very strong moves against 
    the primary trend which are worthwhile trading opportunities.One appears to 
    be at hand now.A review of the 
    charts indicates to me a triple bottom formation in the following indices : 
    NDX 100, COMPX (NASDAQ), SPX 500, . The OEX broke through but not 
    significantly and in addition the OEX is more likely to be affected by 
    options ,arbitrage, exercising etc. The DOW JONES also held above the intra 
    day low of 9731 made on 3/8/00. I don 't have the volume figures for 
    thursday and friday but if someone would post them it would be revealing as 
    to whether the intra day reversal on friday was accompanied by increased 
    volume.Up volume and down volume as well as total volume s/b kept separately 
    for the nasdaq and nyse.If up volume as a percentage of total volume does 
    not increase in proportion to the increase in prices it would give warning 
    that the rally is terminating<FONT 
    size=-1>  .Until we make new highs confirmed by other indicators my 
    primary model is still in a bear mode I am long QQQ at 77 1/2 and 81 I send 
    this out very late last night Did not see it on this morning.Am resending 
    .My apologies if duplicate appears ..<FONT 
    size=-1>Dom 
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