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Hello
I am almost 90% sure we HAVE made a bottom
we WILL most likely make a lower low tomorrow
However
a: the Mc Lullen osc is showing a bullish divergence
b: the Mc lullen on volume is showing a bullish divergence
c: long term trading (propriety but available) is showing a good safe
bottom
d: profit index is screaming close your shorts(also available)
I was not so smart and close my shorts at 970
I did go long at 960.50
my overnight stop is at 955
will add to long at 970
add more at 979
nice bottom fishing
Ben
home of the perfect stop loss
profitok@xxxxxxxxxxxxx
ps the only fly in the ointment is that new hi new low is showing a
beginning of a MAJOR bear started
which means that this up move have a max upside of only 986-990
----- Original Message -----
From: "dowsp" <dowsp@xxxxxxxxx>
To: <wheelsinthesky@xxxxxxxxxxxxxxx>
Sent: Tuesday, August 05, 2003 4:37 PM
Subject: [wheelsinthesky] Re: S&P 500
> Nice call Ben,
>
> The markets fallen right near to my next best time point.
>
> Dow (cash ) has closed at the 66.6% retrace of 9360 - 8870 May 20th
> to June 17th / July 31st range..
>
> That 12.34 pm sell signal I gave proved OK after some hesitation..
>
> IF the dow doesnt maintain a low AFTER 1st 2 hours wednesday, I
> suspect mkt will be very weak..
>
> I have a specific time Ill give tommorrow.
>
> Pete
>
>
>
>
> --- In wheelsinthesky@xxxxxxxxxxxxxxx, profitok <profitok@xxxx> wrote:
> > Most likely tomorrow we see a test of today's lows
> > (we may even break it by a point or so,)
> > However, My View of the market did not change,
> > we are closer to the bottom then you think,
> > I will be long at 965 , and 968
> > with stops at 962.5
> > will add to my longs at 987 , and 989.50,
> > this is JUST a short term bottom to make everyone run to cover
> their
> > shorts,
> > then they will take the boat down to the bottom
> > Ben
> > home of the perfect stop loss
> > profitok@xxxx
> >
> >
> > ----- Original Message -----
> > From: "Don Ewers" <dbewers@xxxx>
> > To: "Wheelsinthesky" <wheelsinthesky@xxxxxxxxxxxxxxx>
> > Sent: Monday, August 04, 2003 4:00 PM
> > Subject: [wheelsinthesky] S&P 500
> >
> >
> > > Lorin may be correct about 900 or lower, however here my manual
> count of
> > the
> > > S&P 500 that I am currently working with. It has us declining
> but not as
> > > far as the 900 level, maybe to 950 or worst case 930 (?) then
> higher to
> > new
> > > highs? From a time pespective the decline should be over in no
> more than
> > a
> > > next week or so and has met its minimum time requirement already?
> > >
> > > Lorin can you shed some light on what the bold lines on your
> attachment
> > are
> > > and other colored dots, assuming they are not proprietary. Thanks
> in
> > > advance.
> > > don ewers
> > >
> > >
> > > To unsubscribe from this group, send an email to:
> > > wheelsinthesky-unsubscribe@xxxxxxxxxxxxxxx
> > >
> > >
> > >
> > > Your use of Yahoo! Groups is subject to
> http://docs.yahoo.com/info/terms/
> > >
> > >
>
>
>
>
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