Z, I dont know if I necessarily agree with you about the idea that we cannot just reverse and plunge. There have been quite a few examples of bear market rallies ending in an extremely sharp reversals. Most tops are generally prolonged affairs due to the dip buys and short covering, bear market rally tops have the potential of a mega drop because they are built on sand.
This morning bounce is going to be important to watch, every day someone stepped in and tomorrow's continuation.
Obviously this is just theoretical mumbo jumbo, you are in and you are out and that is your style. I am mostly an IT kinda guy, but if we do not fail by tomorrow I am hedging.
That would be one of those maybe it is different this time kind of things. You know what usually happens to those statements rk. Take the odds there will be a wonderful short besides this one down the road.
IT next 3er pop it
Z
Edited by zoropb, 07 May 2009 - 09:38 AM.