first of all i don't think people are out of money and there is a bunch sitting on the side. I don't care if it is a low amount by history....it is billions and billions.
it will come into play, and if it is historically low then it won't be enough to sustain a monster move.
second, i am assuming that this selloff is not done yet, and that if we get the right amount of negative sentiment at the 2700-2800 level NAZ AND the SP holds near 1300ish,Dow 9800ish(+..?)NYSE 600......assume, assume,assume
lets see what happens with those assumptions first.....IF that happens it all fits into my technical view of the market.
i take all the TA that I can stomach and I see how an EWAVE read fits in....understand ewaves, don't understand ewaves, think ewaves are total crap...i don't care
they are a tool that tries to mirror sentiment in their collective movements
with them I picked a possible reversal The weekend before July 20,1998....when all screamed for blood on Oct 8th my waves said possible reversal 10 minutes bwefore it happened.
....they told me to smoke glue until 9000's and then to 11,272...
they tell me that we are watching a possible ending diagonal UP from Oct 8,1998......and these diagonals function in a particular manner...a three legged movement up followed by a three legged retrace(waves 1 up and 2 down)
another three legged move up(wave 3) now we are in a three down lapping into the first wave(wave4).....this leaves one more 3 legged move up to finish the sequence
it has followed it exactly since I guessed it might be starting back in early 1999, why should i give up on it now?
most people can't read waves, there are too many possiblilities at once..It is like looking at an Esher(thank you Shahar,brilliant analogy)..many who say they can are full of crap......say i'm full of crap, too, i don't care.we KNOW I SMELL BAD. but I'll tell you this, I read waves better then the GURUS that people pay. and my read says the HIGH PERCENTAGE bet is a run to 1600-1650, at this time
NOT to EXCEED 1650.
it still depends on those above assumptions fitting in.....if they do and we start a run I'll look for the 1st wave of the 3 legger to run to a new high before a substanitial pullback for the second leg.
if the above scenario does not pan out then I am full of crap.....there are certain price levels in here that will kill this scenario, if they occur then it was not to be
lets see if the assumptions play out first before I get excited and crap myself
man, I am just all full of crap tonight. must be this crappy computer or maybe those crappy onion rings from Burger King
Just all Crapped Out
Death Crap |
