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John, I promised I would update you before Monday. Keep in mind I have not read my previous Dow 30 Post since I last wrote you: THE UPDATE: T as I said in last post must test 32 1/2 to go lower, which it never did. Now it is above 40 and stay away, a test back to 36 area. ALD broke higher, but got hurt Friday. Short (put) if it gets back up to 91 1/4 area intraday and let it run to 82 area to close positions for a qick kill. AA. This stock in a clear double top and short on intraday high Mon or Tues to 88 area to test 76 77 area intraday low. AXP this stock will run back to 75, then back up to 78 area and then test 68. Last post said it would test 53 and it tested 53 3/8. A test and break thru 53 1/2 implies a test to 47 1/2 area. This is highly probable event given seasonality period. CAT last post I said a close below 52 1/2 suggests a quick test to 48, and 40 if the market gets bloody. Thursday you had an "island reversal" and a qick test to 52 is imminent. SHORT THIS STOCK NOW TO 48. USE SEP PUTS. OCT TO BE SUPERSAFE.CHV still acting strong but one day island reversal here implies tes to 73 area. Stay away. XON still holding above that 60 level but with lowere oil prices and negative sentiment, this thiong breaks 60 in next 2 months to support area of 58. KO last post I said will succumb to close below 67 area shortly thereafter to test 62 area. I guess we're already there. This will run up to 64-65 intraday high, then strike put.. to then test 56 58 area of support next.DIS moved up higher than I thought last post but now must test 71 area. A close above 81 1/4 implies higher prices and close out short positions. On the other hand, a close below 75 means intraday test to 68 area, highly likely in next three months. DD said this must stay above 60, which it has. REALITY WISE, this will test 54 area in next three months. First test, a close below 66 1/2, next a close below 61. EK will go lower, lower, and lower. First test 58 area, then run to 61, then 52 and eventually 40 to 42 area. A GREAT SHORT INTO STRENGTH. GE, Ah the mother of all overvaluations (#1 in the world for market cap 2 and 3 are MSFT and INTC). Closed below 67 3/4 VERY SIGNIFICANT on Friday.. Implies immediate test to 60 in the coming 2 weeks. A gnereal DOW breakdown signals a test to 49 to 51 area (btw now and end OCT).GM. This is one stock I was dead wrong in. To test 55 area, but stay away. GT. Help. Stay away. HWP I said let it run to 69 area then short to 54 1/2 (Sep, preferably Oct).. we are there.. do it now.. IBM a break (on a close) below 102 implies a test to 92 to 94 area. IP (JOHN ARE YOU OUT THERE?????)IP HAS BROKEN DOWN AND NOW TO TEST 48 TO 50. I HOPE YOU SHORTED IN EARLIER POST INTO SEPT. WE WILL TEST 42 TO 44 AREA INTO FIRST QTR OF 98. JNJ ugly break on friday. Last post I said a close below 58 1/4 implies test to 50. This will now happen within 3 months, IMHO. MRK break on fri means test to 90 area and in Dow 20% meltdown to 81 1/4 are intraday low. MCD double top at 54 area, but huge support at 47 area. Buy at 47 area intraday. MMM last post said looking to test 85. Have now lowered the target to 80 intraday low. JPM last post said interest rate sensitive and 6.75% long bond implies test to 101 1/2 area. A break below 105 on a close implies intraday low to 95 1/2 area. MO still strong and I thoght this would get back to 37 1/2 area, NOT... A test to 37 1/2 area buy half your position. If it gets down to 32 area, average down.. good defensive stock.. PG sell above 148 1/2 if you can. this puppy to test 135 intraday low shortly. S last post I said would shorton close below 55. Never happened. Now I short HEAVILY on a close below 58 1/2. TRV I rates to 7% and this tests 55 area intraday low. UK a close below 55 implies test to 50 and breakdown below this on a close implies 45 1/2 area intraday low. UTX Short now. Last post said was headed for 74 75 area and now headed that way. Next after a close below 75 implies one test to 68 area. WMT buy now to 40, going to 50... DISCLAIMER, ONE MAN'S HUMBLE OPINION. NO GUARANTEES AND JUST EXPRESSED AS ONE MAN'S OPINION. ACTIONS TAKEN AT YOUR OWN RISK. good trading JT |
