y, we could drop to 1313 bounce pretty good, and then drop again, but if we break 1278 and stay under it, it is LESS bullish to me and more bullish to you. Very good bulls just won't crack that barrier and stay under it, imto. A HARD bounce at 1278 is the most bullish scenario I have. I don't care about that gap there anymore.
If do fall all the way down to that gap, it just means we are in a sick bull, imto. Upwards targets will take longer to achieve.
Just mo. There were plenty of gaps not filled for years in the 90's. A 14% sell off this early off a bottom makes the bottom more questionable. If we can get unexpected improvement in the fa, we can go to the moon, ie 2380-2890 before this expires.
I have told everyone I know starting in mid 2001 that this bear won't be over until perhaps 6 months before there is strong improvement in the telecom industry.(sadly, it took me the previous 20 months to figure it out) So the big question is when that can happen? When their balance sheets are much healthier, and when the networks are strained badly, and when there is some pol moves to help out a lot. I don't know about the balance sheets but we are within 6 months of political action and network degredation.
