CFZ E-Wiggle Workspace Message Board

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Strategies & Market Trends : CFZ E-Wiggle Workspace

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To: jjstingray who wrote (2650)	6/11/2003 7:18:02 PM
From: skinowski	Read Replies (1) of 41490

INDU is doing an amazing job. It is poised for a full retest of last Friday's top. On the hourly it does not look impulsive to me, and the momentum (see MACD) is waning, but it has done such deceptions time and again during the rally. Might do it again and break out. Most intraday charts I see are still better interpretable as corrective. Yes, that might be a sign that the rally is ready to run out of steam, but who knows. I think that it is a decent odds bet at this point to own some puts - depending on how much one is prepared to risk in case this locomotive refuses to stop. (I already have some puts, albeit from lower levels, so I don't have to worry about getting any... g)

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