Hamilton:
"Now I suspect that even the most belligerent skeptic would have to admit that the Nikkei-SPX parallels in rally 4 to this point have been uncanny"
YES
"So is a big plunge in the US markets rapidly approaching? No one will know for sure until the future arrives. The eerie Nikkei-SPX parallels have been absolutely amazing to this point, but only time will tell if they will hold going forward."
OK, so maybe.....
I'll venture that the QQQ will wind its way down to about 32.35 before finishing the year at 33.15. (I'd be inclined to short any pop, here.)
stockcharts.com[l,a]dacayiay[dc][pb40!c200!i!f][vc60][iUl14!Up14,3,3!Lg!Lc9!Lf!Le12,26,9!Lb14!Lya7,14,28]&pref=G
I'll also go out on a limb and say the CRB has peaked for this year....I think with just a little more than a month to go for 2003 I can remember the forecasts.
As Hamilton says, "No one will know for sure until the future arrives," but one has to place his or her bets before hand to make any money....
I particularly don't like December for trading purposes and anticipate being less active, hoping to have made any necessary and timely exits prior to the bargins arriving....
Portfolio is nervously 35% Miners and PMs, somewhat more content 10% E&Ps and 15% CanRoys, 25% cash with the remainder in not particularly well performing others. |
