[RT] Well Put

[<jvc689@xxxxxxx>]

Dear Earl,

And nicely phrased. In fact, it is an excellent reality check.

Sincerely,

John

> 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:
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>> >
>> >
>> >
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>> >
>>
>>
>>
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>
>
>
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