8 replies to this topic

[Rogerdodger]

It must be true. They said so on CNBC. EDIT: WINK!!! Based on previous big down days: Selling bottom at 12:09pm and ends the day up 1%. I see several previous big down days which did pause to only probe lower. Airedale and other cyclists have been looking to mid March for a low.

Edited by Rogerdodger, 27 February 2007 - 11:02 PM.

[Russ]

This is a major pi panic cycle, it will most likely last for about 6 weeks right into mid April which is a fairly common time for markets to bottom.

[Rogerdodger]

You may be right. Looking back to the May surprise, the last retest was in July I believe. However I am having one of those "Where were you when Kennedy was shot?" moments... Some years back, I was short and the S&P was down 50 points in a huge selloff. I was so smug about being so right. An hour later the S&P was UP! ...as I remember. I remember where I was and how much money I missed by not covering. There will be action one way or the other.

[Russ]

Look at the last pi cycle date(July 20,1998) comparable to this one, there is great likelyhood that this thing is just going to keep fallling given the huge momentum, on the other hand this decline has come much faster than 98 in one day, its a tough call. VXO has a long way to go on the upside looking back to the 1990's levels.
http://bigcharts.mar...&mocktick=1.png

Edited by Russ, 27 February 2007 - 09:23 PM.

[Rogerdodger]

I was a butcher for a year or two. I still have all my fingers. I don't plan to lose any tomorrow. But don't forget about that noise in the background. Sounds like a printing press.

[Russ]

Here's a longer term cupport channel chart for the NYAD..upper or lower? Similar lines can be drawn on spx and dow, we hit the top line on those charts today and bounced off.

I was a butcher for a year or two.
I still have all my fingers.
I don't plan to lose any tomorrow.

But don't forget about that noise in the background.
Sounds like a printing press.

[bobalou]

well russ I hope you cashed in..nice..I will be looking for a re bound,I beleave in the pumper brothers,plus window dressing. and the charts are pushed out of shape ,,I all so think you need fast figners,in case,and hope the P C s keep working in a fast market.. times,10;25,,10;55,,11;35,,12;35,,

[Russ]

I am currently flat except for Rydex (short X 200% spx) , I will be looking to short futures contracts on a rebound but if there is none I will go short again, I thought it interesting that you are the only person onthis board that remembered my call(slama Jamma!) on the weekend - even though you didn't think I was right then i recall . Russ

well russ I hope you cashed in..nice..I will be looking for a re bound,I beleave in the pumper brothers,plus window dressing. and the charts are pushed out of shape ,,I all so think you need fast figners,in case,and hope the P C s keep working in a fast market.. times,10;25,,10;55,,11;35,,12;35,,

Edited by Russ, 27 February 2007 - 10:49 PM.

[bobalou]

I did feel bad, but slama jamma got to me.the bounce could be of good size,do you job take, take.