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FEED-it's END's alternate count but my preferred count, in my view you are right 5 of C- ending diagonal. If it IS-Monday should see a large drop via one hell of an impulse wave. Today felt like, smelt like the blow off we have all been waiting for-wave A topped March 21 at 8522, wave B ended at 8233 on April 16 and today's close should be it. Now wave 3 the longest, strongest decline needs to suck in every bull out there as fuel for the reversal and I believe it has done that well.. Klingon GOOD post you should post more as my Pal the END says "welcome to the best damn site for people like us." Stoolander-kudos for that reversals as you say always, always come when everyone is looking the wrong way-FOKKER chin up we are there For you unbelievers take a hard look at Feeds chart and a hard lppk at Madame WH's too. I am short some and underwater but not a lot-when we break 921 I go 100% SHORT. Trade Safe!

I would like to see a huge gap on Monday then crap. Remember quite a lot of time there is an overthrow on 5 of c

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feed,

 

i did not say 940 was impossible. I did say that 1100+ in my point of view was impossible. That number had nothing to do with anyones comments on this board. I was thinking allowed as this might be a B wave of an abc from the highs where as A is over already and we are doing a B wave up from the lows.

 

:mellow:

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4. ?NYSE Summation Index

thanks for the charts. Is there a reason you choose 3 year charts? Seems as if the 5 years would be better at this point due to excess insaneness and all. :P

Striker, the main reason is that it's difficult to post such a large amount of data in such a small window and still see any kind of detail.

 

However, I did check each one of those charts going back to before the bear market started, and each one is suggesting a blow-off top that was NOT exceeded in strength even in 1999.

 

You will see that I am concentrating on the SPX. I currently don't have a position in the NDX and don't feel quite as strongly about where it is going in the immediate future.

 

I have a number of charts that suggest further upside is possible. These are mainly the various index charts that show this week's close a little below a resistance line or above a moving average. But there will always be targets higher up, no matter how high we go. What I find difficult to believe is that those four charts in particular have much room for further strength.

 

MWH

thanks for response. Conspiracy theory part 2 here... Im still bearish on fundamentals!....My main thought is the short squeeze above that could happen. Also think OE week might be a set up to blow out the big money option sellers as well. Could be a reverse scam OE week. Joe 6 pack makes out big time and big money gets hit. Seems like a good sort of tax the rich without them knowing plan!...or something to the nature :lol: ...ole Joe would be so excited hed reremortgage the house and go long....then blam....the C of 3rd of C of 3 gets underway!! :lol: the big money wins in the end of course.

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Jim Grant has been bearish forever. It means nothing. He was bearish at the bottom in Oct 1998 and defiantly bearish all the way up the bubble.

 

Vic Niederhoffer has a whole chapter in his new book (Practical Speculation) titled "Cult of the Bear" and talks with and analyses Alan Abelson of Barron's.

 

I think it's a must read for all stoolies.. :lol: :lol:

 

Really those Pretcher, Zweig, Russell, Abelson...etc are always bearish, they are intelligent, have good points but spectacularly wrong for very long periods of time.. So how does that help me ? <_<

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"Wall Street Week with Fortune" just started here. Hate that show, but they're opening up with a fraud story dealing with Enron's phony earnings and banker's role. Oops here we go, talking about Shrubs speech. Now back to unemployment, good, good. Panels gonna talk about the Wall Street reforms. Hey, maybe they're not gonna talk the market up afterall. We'll see.

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Well, they ended "Wallstreet Week with Fortune", with the usual buy, hold and diversify dribble.

 

Piles,

 

I see even some of your short suggestions of a week or so ago flew today. Its gotta be close.

 

Edit: Actually they were not your suggestions. Just on a list of possibles. Still, they are crap.

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I see from casual observation that the more the shit flies thru the fan, the more fanatical become the Ewoofer fundies. Where was that terrible bear leg down that was supposed to happen in July, reset, then October,reset, then in early March. Sorry but talk about a bankrupt system of phony ass analysis. Borsch Belt- Catskills style forecasting worthy of Shecky Green, Groucho Marx and my favorite, Don Rickles. Better and safer and more comfortable future for members of the Baath party still in hiding in Bahgdad than for Ewavers charting these indexes. The word is spelled U-N-C-L-E and is quite frequently used when a wrestler is seriously out matched and resting flat out on his ass beneath a sweating pile of superior musculature which has him painfully pinned,penned and forever discounted into history. buddhabooty, p.s. insatiable Swedish divorcee says hello to all board members and late nighters and requests honorary status as a sexy stoolie on the sidelines wearing only a garter belt and a smile. .

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Well, they ended "Wallstreet Week with Fortune", with the usual buy, hold and diversify dribble.

 

Piles,

 

I see even some of your short suggestions of a week or so ago flew today. ?Its gotta be close.

Bear funds now. Individual short picks once we roll and confirm (actually have two right now and they're just sitting there whimpering)

 

Its really close. :P

 

Its your perfect setup, get everyone believing its a "new bull market" with all the "breakouts", bullish spewing talking heads, etc. Yep, here we go again!

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Just heard Art Cashin a little while ago say that it is still basically a traders market. Mom and Pop are not in yet. He also thought that a new bull market would need economic confirmation of things improving. Otherwise it is momentum players in the larger bear market. I think that's what he said.

Yeah, Cashin was not particularly bullish, and he's right: without sheeple no 'new bull market' and without sheeple, no new money reflux from abroad into US stocks, especially at current rates. So I am looking to straddle with 30% spy, but only after evidence starting this coming Monday of a followup stampede for One More Big Fleecing to remember the good old days by. Otherwise stand pat, BEARX at this moment still relatively cheap if there is not going to be a whole new cyclical bullish IT.

 

Could be Docs' 34 month nikkei-G.D. speculation. But it seems that right now the sheeple have to lead the way :grin: and we need to see evidence in the 401K MF flows, then I'll scalp me one of those sheep to disguise myself as a Bear in Sheeps' Clothing and move my own 401K dong in behind them - no Devonshire puns intended :P Could put a right shoulder on that refi finger, as some cash-starved j6p cash out equity to play the 'new bull', once it really gets going. That may not happen but it would be :lol: if it did! But this is where Cashins' second comment comes in: appearance of funnys turning up it important to the sheeple, naturally.

 

And the Sheeples' Lead will be needed to reentice any foreign money back into the pool. Money inflows from abroad won't lead like in the big 98-2000 blowoff top, they are now swimming against a rate tide that won't be helped by declaring war on France and Germany, leaving Buck exceptionally dependent on Bo'J interventions to keep it up. (It's as if the US declared all out unilateral war in 1933, to 'prevent' or 'preempt' the G.D. Wait a minute, didn't Showa Japan do exactly that, then? Hmmm....).

 

Well, this last item could put an IT floor under Buck (freeing Bo'J to goose their home front), at times even moderately rallying. That would resolve the present spx-usd divergence, as they both move up at the same ROC (they don't actually need to overlap). But there's nothing Buck is going to do to reverse what's being signaled with falling USD/rising AU (+ other relevant indicators) in the face of "the breakout": more US Peso currency debauchery, aka 'inflation', ahead. Today they were practically begging for 'good inflation' on Crapvision: 'Oh, oh, Good Inflation, we're so sorry we dissed you all those decades! Please come again to enclose us in your etheral bubble!" The Good Witch of the North descends in a Bubble to give Dorothy to roadmap back to Kansas. It's freaking Follow the Yellow Brick Road time in the US (subliminal message: buy gold!)

 

That's the tide foriegn money must swim against, and is what should make this a cyclical bull in a secular bear, if it turns out to be any such thing at all. The countries that went to war last in the G.D., like the US, experienced it the _worse_ (Nazi Germany did quite well, then). When dealing with money from overseas, one has to talk about other countries and their economic history :rolleyes: Also indicates why maybe Japan still goes down today...

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Guest AssMaster
Is there a Doctor in the House... I'll need to have my a$$ sutured up after Greenspan's FOMC meeting. I sold my Calls mid-day and am sitting on only Puts (except I'm strong Long on PM's) expiring in May. Hell, I'm so smart I sold SUNW yesterday :( :angry:

Welcome to MENSA! I sold too!

 

However, I bought NEM June 30 calls at .25 and sold them at .50 for as much coin as I would have made in SUNW. And held WMB and DYN which were up nicely.

 

This is not to say I have not made my share of bad trades...just that some are not so bad. Miners are holding up fairly well too.

 

A mixed bag.

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