|
PureBytes Links
Trading Reference Links
|
With a background of rising interest rates, this market has gotten even more
dangerous! It does look like we will get a bit of a pullback here and VIX
has given a sell signal, however I expect that the retracement will be less
than expected according to "the rules" for a w.2 if only to frustrate all of
the non-believers who failed to grab the first lift-off. All of my daily a/d
issues, a/d volume, and hi/low issues oscillators have confirmed this rally
and the weekly oscillators have now reversed and are indicating the market
has staying power. AGet weekly is a long way from minimum w.5 objectives and
AGet daily still needs to complete w.2 retracement, w.3 (usually the longest
and most powerful), w.4 retracement and the final w.5. I suspect it will be
a minimum of several months (perhaps not until w/e 17April00 as suggested by
AGet) before we see the real top in this market. My interest rate filter
will continue to keep my from committing long term money to this market so I
will only be looking to trade the rallies.
Earl
----- Original Message -----
From: <Proffittak@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, November 17, 1999 5:04 PM
Subject: [realtraders] Hey Ben...(forcast top). {01}
>
> we got the new hi a few times in nasdaq
> and once in the sp500
> short term we are overbought and will use strength if any to get out,,
(day
> trade)
> however after a 2-4 % pull back expect one more blast off,,
> possibly 12/2 ultimate top,,
> then if we still have bearish div on vol and McCllullen on ad/dec
> and
> adv get weekly says 5 and 5 then cach is king
> and best are long term put options
> regards
> Ben
> p.s
> when 11/01 i said top in internets is here everybody was saying no
> and when i said top in 11/09-11/12
> or 90 year top in 11/19
> evryone said how can the sp move up that much in such a short term???
>
>
> that WAS a BIG move!!!!
> nd even I did not catch all of it
> but made enough to live on for years
>
>
>
|