3 replies to this topic

[Rogerdodger]

Phil Grande has been a big bear ever since last summer.
He did call a pre election rally last July which sounded unlikely back then.
He did sell that rally at 1300 because "there were a lot of sellers" at 1300.
He was right...until the sellers were taken out.
But then after that, he had several long winners.
As he says: lose your opinion not your money.

He's still looking for more lows but first...

on today's live radio chat, he says get ready for the SPX rally to 1420.

Edited by Rogerdodger, 01 March 2007 - 03:59 PM.

[Russ]

1420 is the 50% retracement, 1430 is the 61.8%, 76.4% is 1442 which takes it right into the gap. Yesterday's rally took it almost to 1420, seems unlikely that any new rally would only go a couple of points above that.

[eminimee]

First we need to get a close above the January low on spx which is 1404....if we can do that..then I think at least 1430 with a shot at 1440. Nice island we left behind on ES and the gap would close at ES 1450. I think that island stays an island before the next leg down. I'm still thinking this is a B wave rebound and wave C should be a five wave affair bottoming when OEX hits 616.

This should help us ID a bottom too.

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=3&mn=2&dy=0&i=p22237805692&a=74401962&r=3715.png

[Rogerdodger]

Yesterday's rally took it almost to 1420, seems unlikely that any new rally would only go a couple of points above that.

That was my first thought.
I could have mis-understood or he mis-spoke, but then again if the market is in a crash mode, 1420 may be all she can muster.
3 days of amazing volume fur shur.
http://stockcharts.c...0738&r=4958.png

Edited by Rogerdodger, 01 March 2007 - 10:30 PM.