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Gitanshu,
I am looking for a low into 10-10, 10-11 which comes from someone ! follow
(The Time Factor) who has a good record of picking turning points (I have
used it for about 6 years). There will be another potential low 10-30,10-31
which may be a lower-low depending on the strength of any rally between them
or if strong rally a higher low.
If anyone is interested in his work contact me directly please and I will
email you the phone number. I have found the road map he lays out helpful in
my trading. I wish I could say I know how he does it but I have no clue and
do not care since the price is so reasonable.
This is not a solicitation but rather giving credit where credit is due and
of course to not represent someone else's work, as my own.
The key for me is to pick the sell points in an attempt to benefit from all
this. Yesterdays short trade had me taking heat but worked out well. Looking
to sell any rally on any subsequent sell signals I see on 10-5,10-6.
don ewers
----- Original Message -----
From: "Gitanshu Buch" <onwingsofeagles@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 04, 2000 9:33 AM
Subject: [RT] MKT: Turning points
> Seeing as the final few holdouts from the initial CANSLIM breakouts are
> taking it on the chin - as in EMC, SUNW and the failures are sinking
deeper
> into the core of the Earth - as in Intel, ORCl - I venture forth to say
> there are some scary looking correlation charts floating around the web re
> current action in Nasdaq with 1987, the heavy short interest in SnP with
> similar price/commercials action in Soybeans, of all things...
>
> Noting that Crude now trades 20% below doomsday scenario but stock markets
> still "sluggish" - read as an euphemism for "longs losing $$".
>
> Noting that nothing is setting up by way of new leadership groups. Its all
> stock-specific where stocks don't have textbook earnings growth criteria
> (translation: Value over Growth?).
>
> That universe, too, just got smaller.
>
> I guess the COT commercial S&P shorts were right after all... just early,
as
> they say about big trades gone wrong but that right themselves.
>
> Noting that I'm not rushing out to cover my shorts - but thinking about a
> DELL with a 20 handle and a 30 handle PE? or a Microsoft with a 50 handle
> and a 30 handle PE? - both growing > GE which has a 50 handle - oops - 60
> handle and a 40 handle PE...
>
> Noting YHOO break down from base after base - and noting when tweaked to
Log
> scales and appropriate screen lookback lengths, that CSCO, AOL, QCOM,
RFMD -
> and more - are all charts of the same feather....
>
> Still a market of buying the few stragglers going up (as in UTX) or
shorting
> the apples falling from the sky - no pun-ishment intended.
>
> Just saying hello after a weeklong silence.
>
> Wondering how everyone's managing this market. Esp cycle/swing/date-based
> traders v/s trend based traders.
>
> Gitanshu
>
>
>
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