12 replies to this topic

[Rogerdodger]

Mike Burk:
"On average, April has been one of the strongest months of the year, however, next week has been the weakest week of the month with modestly positive returns.
The market is overbought and seasonality does not offer much support."

Maybe the moon chart still has a chance for that low April 9th-10th.


Hamzei's comments:
"Good Friday has historically provided an up bias for the market; however next week, we expect some selling as we all need to meet our obligations to Uncle Sam by April 15th."

Edited by Rogerdodger, 08 April 2007 - 03:57 PM.

[Russ]

Note that short term oscillators are getting overbought and Thursday's volume was the lowest since Feb.20 (da top)
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=1&mn=0&dy=0&i=p96013126337&r=9072.png

[QID_trader]

I am chomping at the bit to short this pig Monday morning Very high odds that this is the 'B' wave top and the 'C' wave Tsunami down is about to begin

[The End]

I certainly would not take Mike Burk as anything. He might have been correct the last three weeks but, I would not be surprised if that was a record. As someone who sold his longs last Thursday, I certainly hope he is correct again. Over the long term, he has been a fade, week in week out.

Edited by The End, 08 April 2007 - 06:38 PM.

[fib_1618]

Very high odds that this is the 'B' wave top and the 'C' wave Tsunami down is about to begin

The current internals of the market do not support this forecast....I would give the odds as being 5%.

Fib

[Rogerdodger]

I agree with Fib. (Which is dangerous)

[GOOSE2]

I agree with Fib.

(Which is dangerous)

http://www.marketwat.....5F47257C268E}

[QID_trader]

Very high odds that this is the 'B' wave top and the 'C' wave Tsunami down is about to begin

The current internals of the market do not support this forecast....I would give the odds as being 5%.

Fib

Market internals did not forewarn of the 2/27 Crash. I expect the same this time. You gotta be positioned short before the internals confirm or you miss the next Crash. 2/27 was just the warning shot the next one will be the Tsunami.

[Rogerdodger]

As someone said earlier: There's lot's of bears out there.

GET READY TO RUMBLE!

Edited by Rogerdodger, 08 April 2007 - 09:10 PM.

[fib_1618]

Market internals did not forewarn of the 2/27 Crash. I expect the same this time. You gotta be positioned short before the internals confirm or you miss the next Crash. 2/27 was just the warning shot the next one will be the Tsunami.

It's amazing to think that a 5% pullback can be categorized as a "crash".

The internals (as well as cycles) did indeed forecast a pullback was likely for up to 2 weeks prior to the actual 2/27 trigger.

You are currently fighting a losing battle with little or no ammunition.

Fib