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Final post of morning, sorry y'all...

 

28.70 top on Q's a few days ago

 

Gap fill to 26 ish,

 

Now a wave 2 retracement is about 38% or a move to 26.88 (Near my 27 gap)

 

Then a wave 3 would be 161% of Wave 1 (28.70 to 26)... that would bring us right to

 

24....

 

ta-da!!!

 

Thats how Im playing it SHORT TERM

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Optimists say the late-autumn rally has created a double bottom, which is a strong base for a long uptrend. But chart reading rules say that will be confirmed only if the market breaks decisively above the August high. The chances of that happening are barely 30%, according to studies of double bottoms by Thomas N. Bulkowski, author of the Encyclopedia of Chart Patterns. If it doesn't, odds increase that the market is destined for what chart math calculates as the ultimate downside of the giant 1998-2001 head and shoulders--down 57% from where we are today.

 

Forbes

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Sure was lonely being the only bear in town... Amazing how NYC crackheads can distort a market... I gave you guys the intelligence I gathered in Silicon Valley... that there was NOT a big expansion under way... I had no fear of the crackheads... I'm not a perma-bear, but I know bullshit when I see it... Anyway glad to have all of you back, including our illustrious Mark... If the rally went another week, would have been just me and Doc here on the IDS...

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Office depot.. sales below expectations

NOKIA- Sales growth not as high as thought

HPQ- not going to give projections for 03

AOL- We are shitting the bed

Federated stores- Sales below expectations

 

I'll just remind y'all that a few days ago I posted that q4 IT budgets were being used up for year end, lest the manager lose the budget money... that leads to seasonal strength in q4 for some techs...

 

But will be QUICKLY reversed come January as orders again DRY up... UNEXPECTEDLY of course... heh heh

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chart.asp?symb=qqq&type=2&size=2&style=320&time=6&freq=1&.gif

 

SG, click on the "quote" button (in the upper right corner of this message) to see who I have posted a dynamic chart (instead of a snapshot of it).

 

Regards,

Vesselin

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anybody else just see amy cutts from freddie mac on poo tv? she was asked to distinguish between cash-out refis that go into home improvement vs cash-out refis that buy new tvs and other consumer toys....she said that tvs were just as good, due to the 'multiplier effect' on the economy.

 

i was flabbergasted. do people believe this sh*t?

 

that isn't rhetorical.

 

excepting those tv folks with the off-camera gun (or job loss) pointed at their heads....do they? really? :blink:

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My 26.20 gap on the Q's is coming fast and furious... probably by 1030... followed by SWUP reversal into tomorrow to 26.88 to 27...

 

Trade accordingly IMHO.... I may cover at 1045 Rydex print, and re-enter within 24-48 hours ... if I try to be cute, not sure.

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Doc, I seem to have missed something. Why is Night Stool in LOB instead of in a forum of its own?

 

Regards,

Vesselin

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COMPX at 1420 initial support. Might get a weak bounce attempt here...

 

Regards,

Vesselin

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