Today is not the bottom...
#1
Posted 14 March 2007 - 04:27 PM
Bottom will come in at least two weeks.
Thought you might have a close up of 1994....I wouldn't be surprised if the entire year goes something like this....
http://stockcharts.com/c-sc/sc?s=$OEX&p=D&st=1993-08-01&en=1995-03-01&i=p50581820641&a=100827111&r=1371.png
http://stockcharts.com/c-sc/sc?s=$OEX&p=D&yr=0&mn=7&dy=21&i=p88894786002&a=91757908&r=4814.png
#2
Posted 14 March 2007 - 07:13 PM
#3
Posted 14 March 2007 - 07:21 PM
Will continue to play these swings both ways.......that's how you play volatility........but still measuring wealth by BMW's and not Lear's to this point. OEX will probably head to 648/653 before final dump to 616.
Bottom will come in at least two weeks.
Thought you might have a close up of 1994....I wouldn't be surprised if the entire year goes something like this....
http://stockcharts.com/c-sc/sc?s=$OEX&p=D&st=1993-08-01&en=1995-03-01&i=p50581820641&a=100827111&r=1371.png
http://stockcharts.com/c-sc/sc?s=$OEX&p=D&yr=0&mn=7&dy=21&i=p88894786002&a=91757908&r=4814.png
funny thing happened on the way to the crash....
the low close was on march 5th....the biggest up day in history can come at any time.....
overplaying ur bearish hand is not a good idea
#4
Posted 14 March 2007 - 09:23 PM
Edited by Teaparty, 14 March 2007 - 09:23 PM.
#5
Posted 15 March 2007 - 07:14 AM
Worthy Teaparty, nice thread. One thing I was thinking is that the decline into yesterday's low looked awful impulsive. You've got it labeled as a "b" for the OEX. Or are the five waves I've got labeled "c" of that b, with the overall b starting on March 9, perhaps?
I probably have already glazed some eyes over with that.... Anyway, some indices made the highest highs after the March 5 low on the 12th, and after yesterday's turnaround my bullish antennae were perking up. Looks like five-wave declines for the SPX, WLSH, etc., too for that March 12 - 14 period, and if that was "C" of an overall ABC from the late February high, then it seems quite bullish to me. In the decline to yesterday's low, the bear forces couldn't even manage a .618 multiple of "A" if so....
Just speculating here and waiting to see what develops henceforth. Obviously there are possible bearish resolutions as well. I don't have a Lear or a BMW, but maybe I can get a cup of Starbuck's coffee.
Oh, look at this -- uranium oxide up another $6 to $91. One year ago it was $40. Sweet -- now I can drive to the airport and watch the Lears take off as I drink that coffee.
Best,
Doug