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Ths monkey put his money where his mouth is.
Regards,
Rajesh
Rajesh wrote:
> Below is my mentors comments : I beg to differ with him completely. Im an
> ignorant monkey so please humor me. I stand by what I said.
>
> Regards
>
> Rajesh
> www.monkeyofthehill.com
>
> Oct 20, 2000
>
> Re : DJIA / NASDAQ
>
> Both appear to have bottomed out. INDU looks poised to test the 11400 level
> which is a c-wave of an a-b-c pattern which started at the top.
> The NASDAQ needs to test the 4200 level. Again this is a c-wave of an a-b-c
> pattern. But the fall after crossing the 4200 level will be dramatic. For
> the first time the BSE has formed a pattern in tandem with the DJIA /
> NASDAQ. The BSE also appears to have bottomed out and should cross the 5059
> level. All the upward movements of these 3 indices under discussion will be
> 5-wave patterns as they are c-waves.
>
> Ciao for now
>
> Joe Duffy wrote:
>
> > Since were only talking about opinions here, I'll throw my thoughts in. It
> > "feels" to me very, very much like October 1998 at the bottom in both SP and
> > Nasdaq. I think the low is in personally. I am considering a strategy of
> > selling puts on the SP futures with a strike below the recent low, and
> > simulataneously selling calls on the SP futures with a strike around the
> > recent highs or a bit lower. I think that we are likely to see trade
> > increasingly less volatile and more in a trading range for the next few
> > weeks. If we did break lower I would cover the short puts and hopefully
> > cover off most of that loss by staying short the calls. But really, I think
> > it stays in the range, so that I will profit on both sides of the equation.
> > When implieds are this high, it is the time to do this type of strategy.
> >
> > As well, especially on an intraday basis, I would also be looking for
> > increasing tendancy toward false breakouts, on say a 5 minute chart.
> >
> > ----- Original Message -----
> > From: neo <neo1@xxxxxxxxx>
> > To: <metastock@xxxxxxxxxxxxx>
> > Sent: Friday, October 20, 2000 7:44 AM
> > Subject: RE: Nasdaq to 1800
> >
> > > The 200 day MA has turned down and that is a strong sign of a bear market.
> > > That does not mean we will not get the Nov-Jan upturn. The big questions
> > are
> > > still out:if and when?
> > >
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