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Jim White wrote:
> Norman,
> In your analysis you picked a bottom of 924.92 which occured on 12/19/97
> although there were two lower bottems which would have been more logical
> The bottom of 912.83 on 1/12/98 and the bottom of 855.27 on 10/28/97. Could
> you share the logic of picking the bottom you did? Are they related with
> aspects of Jupiter-Sun as is 1/15/99?
> Inquireingly,
> Jim White
>
Jim, Frankly, I don't remember making such a forecast. Where did I write or
say this? The only recent reference to SPX 924 which I can remember was a
historical one in my example of how to use Fibonacci to project prices. My
guess is that rumors of my market genius are highly exaggerated.
Humbly,
Norman
> ----------
> > From: nwinski <nwinski@xxxxxxxxxxxxxxx>
> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Subject: Re: Markets
> > Date: Wednesday, January 06, 1999 10:43 PM
> >
> >
> >
> > Ira wrote:
> >
> > > It looks like the March SnP could hit the 1279.80 target today. Right
> > > now at 1278, I would say that it was a good call. The index went
> through
> > > the 1257 target and could be on the way to the next target of 1273.60.
> > > There are currently signs that a retracement should occur. There is
> > > still no count to the down side. The CBOE put/call ratio is at an
> > > extreme .53 and yet the OEX put/call ratio is in the middle of its
> > > range. As targets are reached, stops should be tightened to preserve
> > > profits. good trading. Ira
> > >
> > > The above are not recommendations to buy or sell and are only
> > > observations and calculations by the author.
> >
> > Ira,
> > Enough of the key prices every 5 - 10 dollars on the SPX. That sort
> of
> > thing only leads to analysis
> > paralysis. Here's the deal: The July '98 high was approx. 1191, the
> > succeeding low was 924 for a range of 267. Since the 1191 high has been
> > significantly exceeded, take the previous range of 267 dollars and
> multiply
> > times 1.618 (which = 432) added to the low of 924 = 1356. So 1356 on
> the
> > SPX is the next major level we should expect the SPX to go to and where
> I
> > would next consider selling. Until the market proves othewise,
> everything
> > else between now and 1356 is NOISE. The major key levels are the musical
> > notes and the in between intervals are noise. The way to make money is
> to
> > ignore
> > the noise and play the music. The end of the current musical phrase is
> due
> > circa the Jan. 15 weekend,
> > so a sharp move up to the SPX 1356 level into the Jan. 15 weekend would
> be
> > the next time and price
> > to consider a short term high for SPX. If it doesn't come out that way,
> > then I was wrong about the current tune (ala name that tune) and so I
> > wouldn't bet any money. If the pattern does develop per my
> > above projection, and the option sentiment at that time is excessively
> > bullish, then you can sell against 1356 and only risk about 1% of the
> > underlying value i.e. about $14 for a chance to make 100 - 150 SPX
> dollars.
> >
> > Musically,
> >
> > Norman
> >
> >
> >
> >
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