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Earl,
I've had my eye on that one too. Also MSFT and IBM give me the same
vibes. How bad does the Dow get if the three of them get walloped -
down by half or more -- all at once???
Also, look at a long term Dow Util chart -- looks like it finished 5
of 5 of 5, etc.
As to coupon clipping...I'll forward a tbill chart I sent to Tim's
list earlier.
Chris
--- In realtraders@xxxx, "Earl Adamy" <eadamy@xxxx> wrote:
> Do I spy the great mother ship (and biggest of the big cap stocks)
heading
> for a hard landing???????? Are there problems lurking in GE
Finance????? The
> weekly chart of GE suggests that the answer is yes. No wonder the
guys on
> CNBC are working overtime to talk up the market, their options must
be
> pretty deep in do do.
>
> Overall, my market horizon these days is a few hours. The basic
technical
> work I do with counts, regression channels, and symmetry is all
surrounded
> by mysticism. The market does not feel healthy and I suspect that
if it does
> manage to break above its range, it will get a sharp burst upward
followed
> by an unbelievable hammering. More likely I think, is an event or
news which
> drives it downward out of this range.
>
> Perhaps most striking to me is the utter complacency and lack of
fear which
> exists among market participants ... if only one has faith and
patience,
> Uncle Al will have everything fixed up and the good times will roll
on for
> another decade. I don't think it's gonna happen folks which is why
(aside
> from trading) I'm very content clipping coupons and thinking there
might
> just be a bonanza in gains if Goldilocks gets a real haircut.
>
> Earl
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