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A Moment Of Awakening . . .

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A few replies:

 

Jorma: Re pension funding of stock of company

 

Yes, there are limits in place, and IBM is under the limit. That said, its a clear sign of non-recognition by the public of a shift in the economic landscape, and of non-recognition that its a secular bear market. The fact that many corporations are talking about funding their pensions with their own stock is absolutely amazing, friggin unbelievable. Makes me more secure in my negative outlook for sure... these things dont happen at bottoms.

 

FxFox- Agree that 975-985 NDX gap must be filled, but so must 1065 I think too... so Im in cash now cuz I cant get a read on which one fills first... heh heh

 

Thats all for now... trade safe...

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The charts below were drawn immediately thereafter, before a minor selloff ensued in the futures, the SPY's and Q's. These charts may already be moot, but Doc will wait to see the futures action in the AM before updating. If ?the after-market downtick holds, it may be necessary to flatten the blue and red channels.

 

The outlook for today is even murkier than usual.

 

Doc,

 

Are those channels flattening?

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SG,

think your strategy is good, waiting for the 1065 gap to get filled, they wont let 2 gaps unfilled before the downmove.

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This buy the dip stuff has about run its course :o

 

READ THIS

 

Since October 1998, not once have there been three

consecutive weeks with a plurality of bears over bulls according to

Investors Intelligence (30 Church St., PO Box 2046, New Rochelle, NY 10801

 

THINGS ARE GNNA CHANGE :D :D :D

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Could someone explain the "finger formation".

Thanks,

Ormsby :huh:

Ormsby

 

1. Make a fist.

2. Hold closed fist out in front of you.

3. Extend middle finger.

 

Basically, a big spike.

 

That's the finger formation and can resemble the stock market chart pattern. Sometime Doc talks about knuckles.....which would equate to your closed fingers next to the extended middle finger.

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It went a little lower than the map, and toolk a little longer, but I'll stick with that 9:15 update. Probable 1 day cycle low here.

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