I agree that it is distribution. However, they could distribute this up another 80 COMP and 60-NDX points before they reverse. On a closing basis it might be only half that. That's still significant.
Zeev, remember, we don't do triple bottoms OR tops. COMP currently in a triple top.
dayPosted by: positiontrader In reply to: Steve who wrote msg# 1485 Date:4/14/2003 12:13:21 PM Post #of 1683
Steve,
Please be careful on the shorts.As I said today is a crucial day.If we continue to go up I think this rally has legs.My bearsuit is already off and I am reaching for my horns.We may finally see the reverse head and shoulders pattern that has been delayed for 3 months.The rally could be explosive sending the shorts for cover.Potentially we may go up 30-40% in 10 weeks.I know you may not agree but at least consider this in your decisions.