Mike, when I buy these, it will first be "short term", until I can see the "white in the eyes" of the market makers. Currently, my model is still a double bottom here. Originally, I had a retest of the April low's late in August, a rally and then a possible drop to 1400 on the Naz before the end of October, NDX already breached theApril lows . Obviously, my "model" was wrong, and we may have to wait until the end of next week for these late August lows (g), on the other hand, this extension is generating a secondary model whereby the August and October lows coalesce into a single bottom. Not knowing which it is going to be (if any), I am waiting to see the nature of the decline. If we get a very strong decline here into the end of the week, it is quite possible that the second scenario prevails, if, however, we do not register a number of consecutive days with the tic reading well under -1000 and the number of new lows on the Naz going past the 400 level, I'll have to side with the first scenario and make these deployments "short term".
Zeev |
