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Well, maybe HAYWIRE THEORY is still viable, AFTER all.

 

And maybe TERMITE theory, too.

 

Back in the old trading DErange(d)...

 

Everyone? looking for a major move to break out of this "wedge".

 

Maybe this, the Father of All Bear Markets will trip up the TA boyz in yet anUDDER

way and SNOT oblige the expect(or)ation.

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(SIGH) Well, I had high hopes for Maria this morning, then things got sidetracked with the PPI report.... Of course when the Reverend Jackson showed up, it wouldn't have been proper for Maria to have a gusher, although it's my understanding that this is a common occurence in Rev Jackson's presence...

 

Perhaps Friday after MSFT and IBM do their thang... She'll do her screamer act.

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Will see if selling volume accelerate into the close and if so it may signal the reversal...still waiting here. I agree with PD that bulls will not easily give up without a fight - they will use any excuses, IBM/MSFT earnings etc. to jam up this thing. Also I'd be careful with the storage sector - with the upside surprise from McData last month, QueerLogic could also pull out some major today - their businesses are inter-related. MDCT and BRCD sell the SAN switches for storage network, and if they sell will, it means corporations will also likely boost spending on storage hardware, and hardware vendors will in turn purchase more I/O cards from QLGC and ELX...it's all part of a food-chain.

 

I believe overall the Q4 is up b/c of some left-over in '02 IT budget - this would translate into generally higher EPS for lots of software and storage companies. But 2003 will be real bloody, and of couse these knuckleheads will provide a rosy outlook as usual... So I expect MSFT, IBM, SEBL or ORCL all beat 'lowered' estimates...and therefore the rest of the week will provide a great re-entry opportunities for us.

 

Just my .02

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(SIGH)  Well, I had high hopes for Maria this morning, then things got sidetracked with the PPI report.... Of course when the Reverend Jackson showed up, it wouldn't have been proper for Maria to have a gusher, although it's my understanding that this is a common occurence in Rev Jackson's presence...

 

Perhaps Friday after MSFT and IBM do their thang... She'll do her screamer act.

ya know, we might not get it on this one. The Maria indicator may have a longer periodicity than one month (July 23, Dec 2 is about four months apart). Dec 2 to Jan might be too soon to expect another one :wink2:

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A few more takes

 

P/C always hard to judge in OEX scam week, keep that in mind

 

VIX may have put in reversal bottom today

 

VXN got close to my 41 ish target to go short Q's, another confirm

 

Bradley model top I use was Jan 10... has rarely been off lately...

 

Bulls over Bears spread is extremely high still...

 

64 of 67 strategists in BW 03 survey have ALL indices higher year end...

 

I could go on and on...

 

One more, Money flow and distribution continues OUT OF QQQ today...

 

One more push up is possible after Thursday....

 

I do nothing tonight except sit on my 200% short unless we close near 26.25. If so, I take my profits ST, then re-enter on Friday sometime...

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