6 replies to this topic

[dcengr]

Did you look at the RSI2 shoot into the 90s? As I said before, I believe this is still Wave A in zigzag down. So this is the second leg down, and probably means Qs 40 when its done before another bounce. But the bottom is coming soon for Wave B. Why? Futures are getting pretty crowded on the short side. My guess is we'll all see the large traders loaded up on doomsday shorts before this is over, and by the look of things, its gonna get there rather fast. Go look at COT and note where the futures are. Before its over, the small traders will be shorting this all the way back to capitulation at the top of Wave B. A crapload of futures loaded up at the last spike down. Those guys are about to crap their pants when their margin calls come in. There will be another knife catching bonanza at Qs 40 is my FF prediction, then another bounce. And that may start Wave B before Wave C starts.

[SandStorm]

Mr. Market is a very bad teacher and for 3 years since '04 he has taught us to be knife catchers. Every bear call was eventually proven wrong as IT declines turned out to be nothing more than bull market corrections. It can be argued that the entire rally since '02 low was nothing more than a counter-trend pause within the 2000 bear market, and so when the current drop turns into a second leg of this 'ol bear that almost all of us have already forgotten, there won't be enough new pants to go around.

[LeroyB3]

It can be argued that the entire rally since '02 low was nothing more than a counter-trend pause within the 2000 bear market...

I'd like to hear that argument...new all time highs everywhere and this is only a pause in the 2000 bear market...that's got to be a good one.

Best,

LB

[SandStorm]

Bear market is in the Nasdogs. It only bearly retraced 23x off the entire 00-02 decline.

[LeroyB3]

Bear market is in the Nasdogs.

It only bearly retraced 23x off the entire 00-02 decline.

So your "market" consists only of the Nasdaq? That's what I thought you would say. How does every other index fit into your theory then? I would suggest going back and checking to see if any "counter-trend pause within a bull market" has ever lasted five years...or even close.

Best,

LB

[SandStorm]

So if the nasdaq really starts a 2nd leg down, other indices can still charge ahead like the raging bull they have been? Humm . . . I should just buy the dip then and not worry so much. After all, PPT is on my side, no?

[LeroyB3]

Did you go back and check? Trust me it's a worthy exercise. Best, LB