Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: GROUND ZERO™ who wrote (74795)	3/5/2007 6:47:41 AM
From: William H Huebl	Read Replies (1) of 94695

The way I read it is if we fall through the 1380 level, the reversal could come around 1375 and go back and retest maybe the 1425 level before really dropping to the 1260's level. The only problem with that is that I see no real support (other than the slight support in the May 2006 peak area) until we get into the high 1200's. But that presents another problem... if it is a straight-line event, so to speak, then that would mean the backing and filling that prior moves up have had is missing and we may well be in a new "environment?" - I don't know whether that is the right word or not - for the markets. With a new environment in place, we could ultimately be looking at the mid 1100s for support of a next leg down. Gulp! I hope we find support soon because if not, we could well be walking into the biggest BK we have seen yet? BWDIK?

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