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Strategies & Market Trends : Waiting for the big Kahuna

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To: Gersh Avery who wrote (60870)	11/14/2002 6:49:25 AM
From: ig	Read Replies (1) of 94695

"took a look at the stochastic and MCAD on the dailies for INDU and NDX .. slows are above 80 with the fasts having hit ~100 and then fell below the slows .. MCADs have similar look .." Not on my charts. I see fast stochastics below 20 and turning up. MACDs are just below 0 and ready to turn up. I saw this coming a few days ago and sold my DIA Nov puts for a profit: Message 18221523 All I have now are DIA Jun 64 puts from 1.53 average. I'm looking for a bounce here, then a weak retest of last week's highs. If I see that, I'll get into some DIA Dec puts. If the retest looks strong, I'll wait and see what happens at the next level, which should be Dow 9100. If the test there is weak, I'll go for the Dec puts; if it's strong, I'll just wait. My longterm view is still the same: Dow 5000, Naz 800, SPX 500. ig

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