Hi Mike,
The Big Kahuna is threadbare, pardon the pun, even though it is a thread bear, pardon the second pun. There is a point for the punless and clueless... typically this thread is overwhelmed by concerned "investors" and all of a sudden, a dead zone. I think you know what that means...
Here is my analysis of the beeps...
DOW Industrials... a "stage 1 beep" (first indicator, coarse): 6,600 first stop;
NYSE: a "stage 1 beep" (first indicator, coarse): 420 first stop;
NAZ: a "stage 1 beep" (first indicator, coarse): 1,260 first stop;
VGY (Valueline geopmetric): a "stage 2 BEEP" (second indicator, fine)
GE: pre-stage 1... no beep;
IBM: a "stage 1 beep" (first indicator, coarse): 78 first stop;
BAY :: pre-stage 1... no beep;
MSFT:: pre-stage 1... no beep; 95 as first target;
Semiconductor index(tech surrogate): pre-pre-beep.
DELL: pre-beep.
Potential: if this sell-off is not "handled" right, it could develop into a very severe pull-back which would involve more and more stocks... something I believe is inevitable...
Scenario: pullback continues, recovers and a new high is attempted... THEN the big one. This will play out over a matter of weeks, not months.
Strategy: keep minimal puts (I am continuing to hold BAY, regardless) and see how things play out. IF (BIG IF) I am able to detect an interim bottom... THEN I will sell BAY puts and wait the move back up... otherwise, I am waiting for a consensus BEEP.
NOTE (VERY, VERY IMPORTANT): I would like to see both my MACD indicators tank BEFORE I commit to any sizeable put position... then, it will probably be inexpensive, expiring stock options for something like APM or CPQ (DELL too expensive)
More to follow later today...
Regards,
Bill
PS Isn't ANYBODY ELSE OUT THERE???? |
