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The buy-the-dippers are way broke by now. People with 401k's have
either been investing new money every month/quarter as they should or
they have been letting the cash pile up. The people who have been
letting the cash pile up will not even think about getting in until
AFTER a long rally. They will miss the move as usual. And if we're
at the beginning of a 2-decade long range trade like the 60's-70's,
they will sell when the market gets near it's lows again.
No more mania. Monster P/E's will not be tolerated.
Kent
Thursday, October 10, 2002, 12:17:57 PM, you wrote:
> Exactly....a 15 minute break does not hold much water......the reversal up
> that followed the 768 move was very powerful.
> Both the Yahoo earnings news and the jobs report were positive.....but this
> market remains somewhat skeptical....
> true test is : Have the "buy on the dippers" returned from their long, long
> vacation yet ?
> When (and IF) they do, then this market will finally show some longer
> trends.
> -----Original Message-----
> From: Bob Heisler [mailto:BHEISLER@xxxxxxxxx]
> Sent: Thursday, October 10, 2002 10:58 AM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: Re: [RT] lower low for tomorow
> Breached but the bears couldn't hold it. Interesting day shaping up...see
> what they can do in the last hour.
> ----- Original Message -----
> From: M. Simms
> To: realtraders@xxxxxxxxxxxxxxx
> Sent: Wednesday, October 09, 2002 9:20 AM
> Subject: RE: [RT] lower low for tomorow
> A break of 775 would be disasterous.......
> wow - look at how they are bouncing that 780 level.....like a
> superball...
> -----Original Message-----
> From: Bob Heisler [mailto:BHEISLER@xxxxxxxxx]
> Sent: Wednesday, October 09, 2002 7:22 AM
> To: realtraders
> Subject: RE: [RT] lower low for tomorow
> Last week the Dow tested its lows from July and we had a bounce off
> the double bottom. That rally ended up to be another in a long line of
> 1-day wonder rallies and we went on to break those July lows and are still
> trading under them.
> Yesterday it was the S&P's turn to test its July lows and once again
> we had a double bottom bounce, but yesterday's rally was even less
> impressive than last week's. Volume was heavy but the tape was mostly
> negative and we had another very weak close after failing to break through a
> key resistance level late in the session (again). It sure looks/feels like
> the 775 July lows will be breached shortly.
> I hope you and Clyde are right though since I'm not anxious to see how
> far down we can go if 775 becomes resistance.
> Bob
> From: "Hill, Ernie" <ernie.hill@xxxx>
> Date: Tue Oct 8, 2002 11:18 pm
> Subject: RE: [RT] lower low for tomorrow
> Clyde,
> You usually post a graphic. How far up does Fourier suggest. My
> work
> suggests 816-818.
> E
> http://groups.yahoo.com/group/snpforecasts
> <http://groups.yahoo.com/group/snpforecasts>
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