You are absolutely right... based on the inverted H&S I saw, I DID say the DOW-30 has the potential to go to 15,000... and for a time there, I actually expected it to do so!
Then we had breakdowns in numerous indicators which I posted on my website and referred people to it from here, I mentioned that my old 7,900 level was not a bad objective for the DOW. In fact, armed with that information, I placed around 40th in the Ameritrade contest out of 43,073 entrants in last month's contest.
So you can see, I do NOT stay with a forecast once disproven (or is it disproved... I forget), and I am neither bullish nor bearish... I merely announce what I see.
If you recall, it was GZ who held onto the belief we were going higher when I was saying lower and finally caused him to exclaim, "You da man!" A truly coveted award! <ggg>
And it was I who said the SPY was going to 132 (it got there today) after GZ was buying long yesterday (his low came one day late, he sez). I maintained we were going lower and there is STILL the possibility we will go a LOT lower... mebbe tomorrow.
If I sound defensive, I am being so. I guess that is because I expect more kudos rather than cold pricklies, as they say. But I can't blame you... you are you and if cold pricklies are all you give then that is all I have a right to expect!
<ggggggggg> |
