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Strategies & Market Trends : Classic TA Workplace

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To: cybersaavy who wrote (131691)	4/5/2006 6:16:12 PM
From: skinowski	Read Replies (2) of 209892

bulls are buying Trade Stations... Not surprised, euphoric bulls believed the commercials promising that Trade Station will make them rich bulls. Remains to be seen....;) In the meantime, back at the ranch... Recently there was a discussion about Real Estate. There seems to be a consensus that RE is overpriced and that it is sure to come down. I am a member of that consensus. My judgement and intuition tell me that RE is about to get screwed. However, I argued that - surprisingly - the chart of the Housing Index remained bullish. Today is closed above the line connecting the tops last July and last January. I still say that - until proven otherwise - the darn thing remains bullish: stockcharts.com In order to trace out an Elliottian Triangle it would have to pull back to support before breaking out. If it breaks out now, then it was just an old-fashioned "multiple three" correction.

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