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In a message dated 10/15/00 3:15:43 PM Eastern Daylight Time,
onwingsofeagles@xxxxxxxxxxxxx writes:
<< I don't think Friday's volume tells us anything about next
Monday-Wednesday's action. I'd welcome Ben & Dom's opinion - and, even though
this sounds combative, you know I mean well.
I believe overall volume will be lesser going into Monday-Wednesday cycle,
expiration notwithstanding. I believe this will setup the textbook 1234
pullback for shorting. Regardless of what price does.
Yes, I'm anticipating the anticipation of another selloff and when it comes,
I'll participate. Until then, I'm better off being directionally neutral in
my position trades except for the choicest of charts with the tightest of
stops.
The numbers:
NYSE: 10/13
1619 Advances on 868.3 million
1254 Declined on 330.6 million
21 New Highs
162 New Lows
Nasdaq: 10/13
2680 advances on 1608.2 million
1303 declined on 369.4 million
28 New Highs
402 New Lows
Gitanshu
>>
good morning
i have not finished all my work
but most of it shows that Fri was just an oversold bounce
i do think that we will visit the lows again in BOTH ND and sp500
my vol. reversal of Thursday and hi vix and hi p/c may only mean in bear
market a 2% bounce in SP and 7% in ND
and all the above have already turn down!!
vix decrease ,, p/c on NASDAQ Fri was . 35!!
and most important is Vincent indicator failed to go on a buy
price will change my mind
if we close nicely up WITH at least 2.5/1 of up vol. /down vol.,,
cash is king until a trend is clear
Ben
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