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ira:
LOL !
i think it's too early to say that, for sure. my question, as a daycounter
among other things, is whether or not 5/17 has a lot of power as a turn
date. today, 5/18/01, would work much better, for me, for both the spx and
the djia. it ties into 6/16 and 6/21, by lucas and fibo, though i am not
thrilled by the backcounting hits (unless the 3/22/01 is "adjusted",
recognizing that time and price are not always in perfect step.)
i am always in a "listening to the market" mood, but especially now. *if*
this is a bear market rally, soon to end and spank the bulls, it seems it
would do so quickly. here is why i say that: i believe most agree that a
bear market is not really friendly to the bears as one might think. a bear
market, like a bull, tries to confuse and reward the fewest. so here we
are, with many shorts covered after a ferocious punch through resistance,
all following a substantial rally in time and price.
*if* this is still a bear, would not *right now* or *very soon* (say, by
no later than monday, 5/21/01) be the ideal time to haul butt lower ? and,
if it does not do that, a trader might reasonably think that neither case
is made convincingly here and now and want to trade accordingly.
well, anyway, this is how i like to think about the moody, quick-striking,
never-turn-your-back-on, animal we are trying to dance with. :-)
dw/humble1
On Thu, 17 May 2001, Ira Tunik wrote:
> Don't tell me that you think that they got the breaout buyers again? Shame,
> shame.
>
> Daniel Watkins wrote:
>
> > hello everyone.
> >
> > yes, i would like to chime in and say that tomorrow's action, especially
> > the close, may just clear the mud out of the water, at least in my stream.
> >
> > i am still holding out the possibility that the action since wednesday
> > morning was a major stop-runner and perhaps nothing more. most systems
> > which would have been stopped out of shorts or stopped into longs should
> > have executed by the close today. if there is anything to this hypothesis,
> > my guess is that the close on friday would be below the major (now
> > penetrated) resistance level around spx 1268.
> >
> > comments welcomed !
> >
> > dw/humble1
> >
> > On Thu, 17 May 2001, Clyde Lee wrote:
> >
> > > Since I let my SwingMachine members look at this then
> > > maybe some here will see something in this.
> > >
> > > By the way, this method talks about turning points in
> > > terms of time and price -- to me that is necessary ! ! !
> > >
> > > Clyde
> > >
> > > - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> > > Clyde Lee Chairman/CEO (Home of SwingMachine)
> > > SYTECH Corporation email: clydelee@xxxxxxxxxxxx
> > > 7910 Westglen, Suite 105 Office: (713) 783-9540
> > > Houston, TX 77063 Fax: (713) 783-1092
> > > Details at: www.theswingmachine.com
> > > - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> > >
> > > ----- Original Message -----
> > > From: H.Albizem@xxxxxxxxxxxxxxxx
> > > To: realtraders@xxxxxxxxxxxxxxx
> > > Sent: Thursday, May 17, 2001 20:35
> > > Subject: [RT] Re: S&P / NASDAQ
> > >
> > >
> > > --- In realtraders@xxxx, delta88343@xxxx wrote:
> > >
> > > > I do not have a definitive analytical opinion at this time.
> > >
> > > HA: me too, that is the"problem" I was talking about in my message
> > > last Sunday 5/13/2001, I don't have a strong conviction of the
> > > direction until I see the "close" tomorrow.
> > >
> > > Haytham
> > >
> > >
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