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Strategies & Market Trends : Classic TA Workplace
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To: Paul Shread who wrote (63116)1/8/2003 6:28:49 PM
From: Shack  Read Replies (2) of 209892
 
Just got back from some rare January golf. Been nice and warm here this winter and the courses are still in great shape. Looks like I need to not watch the action for us to get any down in the markets.

While I see strong signs that equities are heading down here, the action in the bonds tell me that it won't happen without some fight. The launch in yields off the Dec 31 low will likely get a brother ( I can't get that thing to work as a terminal 'c' wave) and that means equities should get another boost. The equity P/C action tells me we aren't likely to get much beyond the highs we saw this week. The 90% up day is weighing too, I suspect as you do that it was a blow off.

Best to bet on any major moves happen AFTER expiration.
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