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Timing this thing to a gnat's whisker is pretty tough. My view is that odds
are about 60% high is in and another 40% we could see a modestly higher high
within a few trading days. The technicals (especially breadth) are getting
bad enough that "they" have to rally it pretty soon or the shorts are going
to pile on. As mentioned last Friday, I put on the start of a scale short
put position on Thursday. I will scale into small futures short position on
any rally and add to the put position should we get a new high (unless the
technicals improve substantially).
On very short term basis, I note that the decline failed to hit the 12Sep
SPX low by a small margin. This is generally indicative of a failed decline,
so I would expect a strong rally which will retrace at least 50% of the
decline.
Earl
----- Original Message -----
From: "profitok" <profitok@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, September 24, 2003 7:48 PM
Subject: Re: [RT] Hurst 4 chart
> Mr. market is calling for yearly high on 10/10/03
> plus or minus 2 days
> Ben
> ----- Original Message -----
> From: "Navtej S. Nandra (RR)" <nnandra@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, September 24, 2003 9:33 PM
> Subject: Re: [RT] Hurst 4 chart
>
>
> > John,
> > Can't let a post like that go unnoticed! What are the possibilities you
> see
> > "Mr. Market" making and why?
> > Navtej
> >
> > ----- Original Message -----
> > From: <jvc689@xxxxxxx>
> >
> >
> > > Dear Rhonda,
> > >
> > > I too enjoyed your post and chart. Also the use of "possible high for
> the
> > > year" makes it a pretty safe call.
> > >
> > > On that basis, I think the possible high for the year may not have yet
> > > been seen. We will let Mr. Market tell us.
> > >
> > > I would not be selling short just yet.
> > >
> > > Sincerely,
> > >
> > > John
> > >
> > > > Great work, much appreciated.
> > > > n
> > > >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
>
> To unsubscribe from this group, send an email to:
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>
>
>
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>
>
>
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