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B4 the Bell, Turdsday April 15, 2004


Guest yobob1

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To me the beauty of this is no one believes this is anything but a minor drop or correction. That is the signature of a wave 3, even many of the Bears here expect a strong move up-until proven wrong I believe the top for the year may be in! ;)

I agree that the high of the year may be in. If not, I don't think 1175 will be taken out.

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To me the beauty of this is no one believes this is anything but a minor drop or correction. That is the signature of a wave 3, even many of the Bears here expect a strong move up-until proven wrong I believe the top for the year may be in! ;)

Lead us bears to the promised land B4. I'm a believer -- just a nervous one. :unsure:

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The tape was awful today. Cyclically it should have been better.

 

I can't help it but I am thinking that darn old "c" word again. ;).

 

I gotta go do some writing. Just played the worst nine holes of golf ever.

 

In my life. :angry:

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The tape was awful today. Cyclically it should have been better.

 

I can't help it but I am thinking that darn old "c" word again. ;).

 

I gotta go do some writing. Just played the worst nine holes of golf ever.

 

In my life. :angry:

Don't feel bad Doc. I just bowled an 88 with my son at cub scouts.

 

Ps. Crashes can occur from these short term Dover Sole conditions. The Mc Osc is at -250. That is about where it was in July of 2002.

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To me the beauty of this is no one believes this is anything but a minor drop or correction. That is the signature of a wave 3, even many of the Bears here expect a strong move up-until proven wrong I believe the top for the year may be in! ;)

I'm a little of both.

 

I not only believe the top is in at 1163, but that 1151 will not be surpassed again. However, don't think we're in Wave 3 here unless and until today's low is taken out with a big black candle on expanding volume.

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DrStool Posted: Apr 15 2004, 07:19 PM

 

No, I'm not a skeptic.

 

Just so happens, I know her.

---------------------------------------------------------------

 

I should have know

 

:lol:

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The RLX, HGX, and XLF have cracked.

 

All three Pillars of the Housing Bubble.

 

I doubt we get much of a bounce out of here.

 

On all the other tops and subsequent selloffs, the lenders, builders, and financials held their ground.

 

Not this time.

 

Looks like the real deal......

 

Major Indexes

 

Most of the major indexes have broken below the 50-day and now the lagging 20-day is the only thing left holding them up.

 

If we bust down tomorrow and crack the 20 and the 50, then the 200 is the next stop.

 

Judging from the severe volume seen on the financials, I doubt the 200-day will hold.

 

Unless Johnny Law II announces a "surprise rate cut" or an "unexpected BOJ Intervention" or something......

 

Within a matter of two weeks, the odds of playing the short side have dramatically improved over the long side. Lots of juicy short selling setups out there. Not even worth trolling for longs anymore, until we get a huge 5-day ARMS reading and a couple of back to back 90% down days.

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The Mc Osc is at -250. That is about where it was in July of 2002.

:huh:

 

End, I get a reading of -67 for NYSE McClellan Osc. I must be looking at sumthin' different.

The Osc was at -249 yesterday. I don't know where it closed today. See if you see the -249 number from yesterday. Otherwise, you are looking at something different. :rolleyes:

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