Bobby, all I can say for the bozo thing is "ouch", but it does happen, if you are not whipsawed here and there, you are doing something wrong (g). I like your general scenario and it is not very different than mine (by the way, you were not the only bear for January 23, and we did get back close to that high on the 31st where I had Get out before 2:15 on the 31st...), I have this decline accelerating from here to end in the 2200/2300 area and then a 40% to 50% rally, most likely target 3050 on the Naz with an outside possibility of 3150, but, for that to happen, I absolutely need to see trin readings like today (and even worse, if at all possible, until today the worse I remember was 8 on the trin, in recent memory) coupled with very negative tics, and I mean something like at least -1100 on the Naz, and hopefully at least three consecutive days like that. If we do not get these kind of extreme, I fear the next rally will be stopped under 2600. Right now, however, everything is "congelling" to deliver sometime in the next two three weeks a classic bottom.
Zeev |
