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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	7/12/2001 7:31:51 AM
From: helius	of 37746

Thursday TR What we said yesterday proved correct for Wed & Thursday(see below) as did our week-end post for Monday-Tuesday in addition to each day of last week. We really don't need to add much to yesterday's post. Short covering rally lasts one to three days and lasts maximum to Monday close , then or earlier Bull steaks will ready to be grilled. Today expecting gap up open and retrace 50% of that soon. Resistance 2028/39/45....2060/81/84/88 , support 2016/06...1994/88/84. Black candles(closing below gap up open) will be negative.2116 which we are not expecting will be bullish. 2137 is absolute ceiling for this rally if it does develope. 2181 remains safe. A swing high gap up open +2045 will be bullish. Just to reiterate 17th July Puetz panic low. Puetz 2nd Window for top 31st July to 7th Aug followed by crash. Jim's tradeable rally from lows then into Labour day(3rd Sept). We took profits on all our shorts are remain only 25% short from 2168. Will definitely be adding to shorts today specially at gap-up open. Previously 10 trading days after 6th rate Nasdaq closed higher than 6th rate cut close(2072). Today is 10th trading day. Just another of tit bits. eufinancial.com Wednesday - down AM , capitulation reversal PM: Jim is short 100% at 2180 and may cover 25% of his shorts at around 1900. We were 50% short Monday , went to 60% Tuesday AM and were left 38% short(2168) PM after profit taking and may cover some of those today. Wednesday AM expect 1941 gap filled. Possible capititulation low to undercut 1923 on high volume for possible seller exhaustion. This bearishing engulfing pattern confirms reversal , if close Wednesday +1965 on high reversal volume of total 1.8-2.2 bln. In case of possible reversal target 1974-2016 today & +2039-2060 to 2081-2104 ahead. 17th panic lows by Puetz crash in anticipitation of world coming to an end by IBM warning. Alternate less likely scenario is 1900 break & undercutting 1890/88/81/70. In both scenarios of oversold reversal or continued drop NEW LOWS await ahead. Third alternate sees capitulation reversal spread over 2 days , Wednesday & Thursday eufinancial.com

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