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A short term bounce is coming, but the slaughter of the momo bulls over the past week probably marks the beginning of a long, grinding handle to match the impressive long term cup.

 

How I managed to get out at $33, I'll never know.

 

TASR

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"Markets continue to decline in 2005 posting a loss for the first five days. Officially, for our First Five Days Early Warning System the S&P 500 is down ?2.1%. The Dow is off ?1.7% for the year and NASDAQ has dropped ?4.0%. This is cause for concern on top of the negative Santa Claus Rally mentioned. We have been warning of a top the first half of 2005 and this early negativity supports that position.

 

This does not mean that from here the market will fall precipitously?this sell-off may actually remove some froth from the market and fuel the push to the final top. This relates in part to the 3 Peaks and Domed House pattern. We may very well be plotting out point 20 on the Domed House at present. For now caution is in order but not panic. A final move to the top of about 10%-20% from current levels is still in the cards."

 

Three Peaks and a Domed House - stock traders almanac

 

Stopped out in the last two weeks:

Internet Architecture HOLDRS (IAH)

Internet Infrastructure HOLDRS (IIH)

iShares Goldman Sachs Tech (IGM)

Select Sector SPDR-Financial (XLF)

Internet HOLDRS (HHH)

iShares DJ US Tech Sector (IYW)

iShares Goldman Sachs Tech (IGM)

iShares S&P Global Tech Sector (IXN)

Technology Select Sector SPDR (XLK)

streetTRACKS MS Tech (MTK)

Central Fund of Canada (CEF)

iUnits S&P/TSX Capped Gold (XGD.T)

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For Wndy...

 

IBD100 - Changes for 01/07/2004

First Timers: VTRU,CMX,LNCR,TOO,RTSX,HYSL

Added this week:WLP,VTRU,ADM,UFCS,HOV,MHO,TXRH,CMX,LNCR,TOO,ANF,RTSX,AAPL,HYSL,

TCBI,CHS,PHM,ADS,TPX

Dropped this week:NGPS,DHB,URBN,DECK,ARLP,VNBC,UIC,EXM,WIBC,WIT,GRMN,CREE,HYDL,VLO,

SYNA,PRAA,RSTI,HAR,NAT

Stocks Moving Up with a Bullet:ANGO,CTSH,TOL,PSYS,PENN,MRVL,RYL,MCRS,BG,MSA,SBUX,LFL,ASFI,HUM,

MGG,MTH,PARL,COH,DRL,DHI,UCI,DVA,NSC,INFY,AEOS,FPIC,MDC,PVR,UNH,WBSN,

KBH,SIE,LEND,LSTR,CACC,CNC,ADSK,AH,CMC

 

Bullet Stocks:

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