ANOTHER bear bites the dust---
<<Where Are We Now?
(Friday 06/02/2000 AM): I thought I would be able to sleep-in this morning, but much to my surprise, the labor statistics were
much better than expected and the market surged substantially higher. The resistance levels I discussed last night were
shattered. Just as I said, the buy-stops and the call option sellers covering their risk with futures, combined with an optimistic
atmosphere following the jobs report, all contributed to this mornings massive rally.
I had hoped that I would be able to make this announcement under better circumstances, but it is with much trepidation that I
have decided to discontinue frequent updates to the CyclePro Outlook site. I have not altered my long-term bearish view.
Short-term however, it looks like my forecasts have been wrong. But this is not the reason CyclePro is slowing down... long
ago I established the level of 250,000 hits to the website as my milestone to make my change. This level was achieved this
week, a little ahead of my early estimates. I had decided that I was either going to turn CyclePro into a subscription service or
shut it down completely. I have been spending 3-5 hours every day, even on days that I do not post an update, for the past 20
months without any financial consideration. Because of this massive devotion in time, I was unable to spend time in pursuit of
other technical analysis research, which is my real forte. Further, I need to have my personal time back.>>>
And ANOTHER one does |
