HATE BEING CONSERVATIVE!
What happened yesterday I was so deep in research I didn't check the board... just normal back n fill? Anyway lets hope so. According to one source Tactical Trading- Wednesday produced the sharp decline wave {d} down needed, and stopped right about where the triangle retained its matching slope, rising and declining boundaries, suggesting wave {d} down is complete. Thursday should see wave {e} up start. It could be a 200 to 500 point bounce. The 30 minute and 15 minute Full Stochastics are oversold, suggesting prices should rise Thursday, in line with the pattern requirements. A rise above 9,750 would blow up the triangle scenario and suggest that wave a-down from all-time highs October 2007 bottomed on October 10th, and a multi-month rally has started. If we are looking for further guidance as to the odds that this triangle will realize its downside target, and not follow the small 5 percent chance it could represent a bottom, on page 12 we see the triangle pattern evident in the NDX. It is not a symmetrical triangle, but is a descending triangle. Descending triangles are high probability Bearish patterns, which lead to declines. Blue Chips should move in sync with the NDX. While we are intensely focused on this dangerous potential the triangle wave 4 scenario presents, we need to point out that once the subsequent wave 5 completes, perhaps in the 6,000's, a huge dramatic rally will follow, wave b-up. It should last several months and be an excellent opportunity to go long. We just don't know at this point if it started already, on October 10th, or will from much lower levels a few weeks from now. But a rise above 9,750 suggests it has already started and is likely headed for 11,000 to 12,000. A drop below 7,882 suggests we are likely headed for the 6,000's first.
>>> Yikes Dow 6000? first lets hope not. Someone else charted 5000 today on TV... these are truly good signs I'm sure. Every big bear market rally has started this way with the panic spike and then the pull back.
ORLY is remarkably stable. Drifted down 50 cents to $22 where it found buyers again... next year this is going to be a huge institutional name, the story is just too good for mutual fund mangers and bankers... Expose myself to a $19 print? Why not I feel like buying something.
I've been working BLK very hard... could this be the one,.... the one you buy in size and ACTUALLY PUT AWAY> I think so the conference call is long but well worth reading, there is much globally to like about this company as well as near term stuff with the TARP which I believe they will be involved with in a prosperous way.
ADM.... the old snail. I know. These are not usual picks from me... what of
FSYS SGMS or perhaps ITRI? Why not make some real money and just ride POT up today???
Psychologically debilitating this market is... when I'm digging through Diageo 7% notes something has gone terribly wrong....~ stoney
What happened yesterday I was so deep in research I didn't check the board... just normal back n fill? Anyway lets hope so. According to one source Tactical Trading- Wednesday produced the sharp decline wave {d} down needed, and stopped right about where the triangle retained its matching slope, rising and declining boundaries, suggesting wave {d} down is complete. Thursday should see wave {e} up start. It could be a 200 to 500 point bounce. The 30 minute and 15 minute Full Stochastics are oversold, suggesting prices should rise Thursday, in line with the pattern requirements. A rise above 9,750 would blow up the triangle scenario and suggest that wave a-down from all-time highs October 2007 bottomed on October 10th, and a multi-month rally has started. If we are looking for further guidance as to the odds that this triangle will realize its downside target, and not follow the small 5 percent chance it could represent a bottom, on page 12 we see the triangle pattern evident in the NDX. It is not a symmetrical triangle, but is a descending triangle. Descending triangles are high probability Bearish patterns, which lead to declines. Blue Chips should move in sync with the NDX. While we are intensely focused on this dangerous potential the triangle wave 4 scenario presents, we need to point out that once the subsequent wave 5 completes, perhaps in the 6,000's, a huge dramatic rally will follow, wave b-up. It should last several months and be an excellent opportunity to go long. We just don't know at this point if it started already, on October 10th, or will from much lower levels a few weeks from now. But a rise above 9,750 suggests it has already started and is likely headed for 11,000 to 12,000. A drop below 7,882 suggests we are likely headed for the 6,000's first.
>>> Yikes Dow 6000? first lets hope not. Someone else charted 5000 today on TV... these are truly good signs I'm sure. Every big bear market rally has started this way with the panic spike and then the pull back.
ORLY is remarkably stable. Drifted down 50 cents to $22 where it found buyers again... next year this is going to be a huge institutional name, the story is just too good for mutual fund mangers and bankers... Expose myself to a $19 print? Why not I feel like buying something.
I've been working BLK very hard... could this be the one,.... the one you buy in size and ACTUALLY PUT AWAY> I think so the conference call is long but well worth reading, there is much globally to like about this company as well as near term stuff with the TARP which I believe they will be involved with in a prosperous way.
ADM.... the old snail. I know. These are not usual picks from me... what of
FSYS SGMS or perhaps ITRI? Why not make some real money and just ride POT up today???
Psychologically debilitating this market is... when I'm digging through Diageo 7% notes something has gone terribly wrong....~ stoney
