Classic TA Workplace Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Classic TA Workplace

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: ajtj99 who wrote (62960)	1/7/2003 8:05:37 PM
From: At_The_Ask	Read Replies (2) of 209892

The move that we are in now is the move that I've been waiting for. My outlook is a little changed because the further we progress in time the lower the target gets because of a falling trendline. I also developed a slightly different count in the last couple days but they are essentially the same. 960 maybe 70 spx max then meltdown. The comp can and probably will go higher. It has room to run but the spx is close to the top out area. Maybe (probably) everyone starts moving into tech soon and causes it to advance faster from rotation? Time wise I think we are very close. Unless we make a giant ending diagonal then we can only rally so long at this pace before hitting the top or spoiling the pattern. at_the_ask.tripod.com Look at the expanding triangle chart halfway down and read the text, it pretty much explains everything. Notice the little arrow that says "you are here". The "e" wave of the expanding triangle is a miniature version of the rally that we have had from the october lows. The arrow, if you can imagine it was jan 2 just before the giant move this week.(remember I was buying thursday) If you pull up a daily chart and compare the move from oct to the e wave in that 60 minute you will see they are almost identical. The big white stick is where we are now. The new count that is my favored is essentially the same but calls for slightly lower targets to the upside. Bottom line is don't be the last buyer. It's very likely the move from the bottom will be strong so I don't think I'd short and not look back for a year.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next