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This is a Magnum OEX 100.....capable of blowing


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#1 eminimee

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Posted 25 December 2006 - 08:14 AM

The question you have to ask yourself.....was that 5 shots or 4....do you feel lucky punk...well...do ya?



http://stockcharts.com/c-sc/sc?s=$OEX&p=D&yr=0&mn=4&dy=25&i=p79521626957&a=91757908&r=9512.png

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Edited by Teaparty, 25 December 2006 - 08:25 AM.


#2 jawndissedi

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Posted 25 December 2006 - 02:14 PM

I guess the point is that there are always alternative wave counts, and that no wave count can be determined to be correct except in hindsight. Therefore, wave counts are a lagging indicator of no practical value to those interested in predicting the future (as opposed to predicting the past -- which some folks also have difficulty doing). Did I interpret this post correctly?
Da nile is more than a river in Egypt.

#3 kaiser soze

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Posted 25 December 2006 - 02:32 PM

Ok, I'll try being the punk here. The long weekend has allowed everybody the time to look at the numerous divergences and cautionary indicators (Lagging transports, sagging a/d lines on banking index, lower highs on RSI, lower highs on MACD, elevated optimism, etc). OEX may hold up better than most other US and international indices during the next sell-off, but in the near term, I think its more likely that institutions will sell into rallies.