Tim, originally, I had 2800 as the top of this leg (already history <g>), my next target is 2950 and major overhead resistance at 3150 (which I think we may see in January, still according to original script). The retrenchment from wherever we go should not be deeper than 400 naz points (as i mentioned in a post last week), thus, if we indeed do not stop before 2950, then the mid 2500 should be the target of entry (start probably as we approach 2600 from above?), around December 12th (not changed), and then go into about a week rally (Dec 19 as a temp top), a minor decline after Christmas for a day or two, and then on the $27/28 the start of the January rally, which currently I guess will lead to the 3150. From there, I am still sticking with the original scenario of a low late in winter about 200 Naz points under the recent low, give or take. I don't have the 1900 until later in the year (either August or October). I may do some selective buying in the morning tomorrow, in case this rally seems to get another 100 points or so, mostly because unlike last Thursday (when I was "ready" for the next day's explosion, today, I missed that game by a mile and then some. Ashamed to say, but I am right now still with 63% cash, not very smart, but frankly, not really stupiod either.
Zeev |
