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> looking at the charts this latest rally was a screaming, giddy "C"
wave.....which is always frothy and without logic.
I agree it looks and acts like a "C." I've posted as much months
ago on other lists (maybe here too? i forget...). "A=C" SPX is near
975 (I don't know if it'll get there though, the SPX itself could
still be in a big (you guessed it, if you connected the dots)
contracting triangle.
> Example: EBAY near 100 with a PE ratio near 100.
> Wow, back to 1999's tech craziness ? Wrong. Tech is dead for now.
Mark, you've got to be the king of "things that make me go hmmmm..."
Are you saying anyone who bought EBAY on the triangle break out(s)
in the 50-60 range is "wrong?" Weren't you bearish EBAY a month or
two back? Borrowing from another song: If an unmargined 100% gain
is "wrong" I don't want to be right.
> Tech is dead for now. Ask Warren Buffett.
I don't disagree with that, but "one man's ceiling is another
man's floor." It really depends on your time frame.
--- In realtraders@xxxxxxxxxxxxxxx, "Mark Simms" <mar.ko@xxxx> wrote:
> Exactly - well said....and I might add: use multiple approaches.....
> For example, I hate EWT for it's ambiguity, but looking at the
charts this
> latest rally was a screaming, giddy "C" wave.....which is always
frothy and
> without logic.
> Example: EBAY near 100 with a PE ratio near 100.
> Wow, back to 1999's tech craziness ? Wrong. Tech is dead for now.
Ask Warren
> Buffett.
>
> > -----Original Message-----
> > From: Adrian Pitt [mailto:apitt@x...]
> > Sent: Monday, May 05, 2003 8:38 AM
> > To: realtraders@xxxxxxxxxxxxxxx
> > Subject: RE: [RT] sp 500
> >
> >
> > Alex,
> >
> > Does this mean you took a position on the advice of others and
failed to
> > know where your exit point was? I would hope that your not
trying to be
> > subtle by blaming Ben for your loss. If you were a professional
trader
> > you'd know that part of the business is taking losses, but as I
suspect
> > your trying to poo poo someone else voluntary help to this list I
would
> > actualy suggest you're a poor loser. I'm sure most on this list
nor the
> > moderator would appreciate that kind of input.
> >
> > Regards,
> > Adrian.
> >
> > Ps....If you had even bothered to read his email your last
question
> > would have be answered about as clear as anyone 1st grader could
ask
> > for.
> >
> > > -----Original Message-----
> > > From: Alex Bell [mailto:alex_bell@x...]
> > > Sent: Monday, 5 May 2003 8:21 PM
> > > To: none
> > > Subject: Re: [RT] sp 500
> > >
> > >
> > > Hello Ben,
> > >
> > > Does that mean that previous short position (initiated 1-2
> > > days ago if I remember correctly) suggested by your tools
> > > was covered for a loss? If yes at what level?
> > >
> > > And what criteria to open next short?
> > >
> > > Thanks, Alex
> > > mailto:alex_bell@x...
> > >
> > >
> > > Monday, May 5, 2003, 8:09:38 AM, you wrote:
> > >
> > > n> Hello
> > > n> this market is stronger than I expected,
> > > n> And, I can see it in 1-3 days we could close above 940 or
> > > at least
> > > n> hit 945 intra day high, that should prove as a
INTERMEDIATE top
> > > n> and the next price objective is 840 all 3 tools I use
> > > suggest a
> > > n> major top be careful
> > > n> Ben
> > > n> home of the perfect stop loss
> > > n> profitok@xxxx
> > > n> (which suggest the following levels)
> > > n> if you are long your stop is at 921.1 for overnight
> > > session, and going up 4 points per hour in the day session
> > > n> sell short is at 917
> > > n> add to shorts at 912.2
> > >
> > >
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