I'm bullish and I see the DOW breaking to the upside which in turn will pull the NAZ up with it. We may go side ways for awhile, but I do not see new lows in the DOW or NAZ this year!
Now this is how some people post and I quote, "Originally, it was May 9th, but the turnips must have been wrong on that, now they tell me anywhere between the 9th to the 23rd for that 1850 bottom. They need to see first a breach of 2095 for that scenario, and they will turn short term bullish on a close above 2250."
And quote, "Yes, I expect another retrenchment, possibly stopping short term at 1850 or so, and then, depending on th nature of the rally following, either a "call" that April was the low, or a possible (now still higher probabulity) of an August najor decline to retest the early April lows, and possibly going even lower a bit."
And another quote, "Right now, they have two critical areas, the 2080, which we bounced from (the down turn was conditional, so far, on 2080 not holding, and the bias of some indicators was that it would not hold, so far, these indicators are wrong), and on top we have 2250, which if breached opens the way to 2388. Once more, the same indicators have 2250 as serving as a barrier repelling the market. The longer we stay in that range (2080 to 2250, and actually for next week, the bottom rises to 2095 or there about), the stronger will be the move on a breach of these levels. According to my count, we are already some 16 days that range (with the rising bottom, the last I cited, I believe, was at 2000 and we bounced from 2002). The 2250 must be on a closing basis. That is where the "rub" is, if it breaches during the day, I'll have to weigh what is the probability it will hold and close above that level, a tough one. Earlier this week, it looked as if it was going to go through, but it did not, we'll see what happens next week. If you are asking for a "probability of 2250 being breached" and the rally continuing, my indicators have a poor 25% on that. That is far from "no chance in hell"...(g)."
So since I demand so much of Zeev with his calls let me call it like he does. Here is my post above with capital letters plugged in how others would hedge themselves:
I'm bullish and I see the DOW breaking to the upside (UNLESS IT BREACHES 10,500) which in turn will pull the NAZ up (UNLESS IT BREACHES 2095 THEN IT WILL GO LOWER) with it. We may go side ways for awhile, but I do not see new lows in the DOW or NAZ this year (DEPENDING ON THE NATURE OF THE PULLBACK WHICH IN CASE WE WILL TEST NEW LOWS OR LOWER)! >>vbg<< Am I hedged enough!
To be serious now, I don't believe you have ever seen me question a market call, only fills that he says he has received when in fact it was a bad tick and posting $47.5 when the original post was $48 and all he had to do was say that he had edited!
1. Don't fight the FED!
2. Four rate cuts and at least one to three more on the way!
3. DOW has been basing for two year now and the way I read TA it looks as if it will break to the upside to me!
4. Markets have and will predict the future by moving in advance of news. Just as last year everything looked great the market starting going down before the bad news came out and now everything looks as bad as it can get, so the markets have started up and looking back in 3 to 9 months most will be wondering why they did not buy now!
5. Tax cuts will help when passed!
6. Still predicting budget surpluses even with the slowing economy and tax cuts
7. Markets like to climb a wall of worry and seems most people are really worrying about the economy and markets now!
8. Companies are beginning to see the light at the end of the tunnel even if it is a dime light so far. By the time one sees the real light we will be much higher than what we are now!
9. The market is taking bad news and going up on it and I'm seeing selling coming early during the day and buying later in the day which is a sign of a more bullish market!
10. And the most important thing IMO is I'm quite bullish!
>>VBG<<
Hank |
