Posted by: positiontrader In reply to: Steve who wrote msg# 1485 Date:4/14/2003 12:13:21 PM Post #of 2628
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.
Yep - a rally in the sector that was singlehandedly started by JJ - dead wrong in a huge way, but they used it to rally them anyway. It shows that perception is more important than reality in the markets, although I am a believer that fundamentals usually win out in the long run - sometimes it just takes longer than others.
Zeev, whadda think about a short-term top here Monday or within a week respectively...from this molehill (g), lot of evidence adding up to exhuberence close to previous bear tops....I heard a decent explanation for (basically) not-yet in concurrence P/C ratio: some naked put buying going on??
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