Subject: [astrofin] pullback
We may be getting
our real estate pullback.
Geo J hit the US
natal S on 8/8/2005.
Whereas last
month's existing home sales figure increased 6%,
it was just
announced that the figure this month decreased 3%, though
still
at record highs, a
9% month to month decrease.
Though an orderly,
limited pullback is still a reasonable possibility, since
8/8
the Dow for
example has put in a lower fourth of a quadruple high and lows
are
getting
lower.
Scot reported
previously that on 8/25/2005 hel J will be 180 from the 10/20/87
low.
On the other hand
the SPX is sitting on a daily trendline from a low in May and July. I
wouldn't be
surprised if it
stays there until Thursday and then we find out what it wants to
do.
Livermore said the
secret was to get as close to a pivot as possible.
Whichever
direction you see
the market, now through Friday might be a good time to
take
profits and or
initiate medium to longer term positions.
This could be the
lower buyback point Ben called or it could be the beginning
of
something else.
Time will tell. What the market does with respect to the aforementioned
trendline should
speak volumes.
Cheers,
Darrin
No virus found in this incoming message.
Checked by AVG
Anti-Virus.
Version: 7.0.338 / Virus Database: 267.10.15/80 - Release Date:
8/23/2005