RE: [RT] whats next

["Tony Pylypuk" <tpylypuk@xxxxxxxxxxx>]

I am too involved in the Canadian election occurring next Tuesday to be able to look too closely at the long term implications of the present market activity.  Nevertheless, I suggest that an analysis of the DJIA from the high of 1979 +/-at 1000 +/- to the high of October 2007 at 14280 results in Fibonacci retracements at 9200 (already broken) and 6200 +/-.

In my humble and unschooled opinion all that has happened since 2000 is a corrective wave A, a counter (bullish) wave B and now a concluding wave C. 

On that basis, the bullishness of wave B bodes well for the future and perhaps for a softer and higher bottom than 6200.

 Anthony W. Pylypuk
Barrister & Solicitor
80 King Street, Box 605
Welland, Ontario
L3B 5R4

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-----Original Message-----
From: realtraders@xxxxxxxxxxxxxxx [mailto:realtraders@xxxxxxxxxxxxxxx]On Behalf Of Ben
Sent: Thursday, October 09, 2008 11:15 PM
To: panda2222@xxxxxxxxxxxxx; vincent new; vince donovan; Vincent DONOVAN (E-mail); realtraders@xxxxxxxxxxxxxxx
Cc: astrofin@xxxxxxxxxxxxxxx
Subject: [RT] whats next

The day after 10/19/87 i was driving by fidelity office

 

the line was out the door

 

everyone was putting money into the market

today

34% of investors has pulled out of the market

redemption at funds are growing

accelerating the decline

there is no  safety in the buy for the long run

if you left your money in funds in 1929 it took you until 1952 to break even

i hope at least some of you were paying attention to my holding in my IRA

it was QID

tomorrow will be selling some for a double

in hope to get it at lower prices in a few days/week

Ben

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