Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 42.80

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To: chartliner who wrote (29256)	1/23/2008 3:57:30 PM
From: Chip McVickar	Read Replies (1) of 206731

RussB, Certainly if you find value in Armstrong’s cycle work with PI then it must be valuable... there's a lotta different kinds of cycles and I do watch some astro-type stuff... Looking at the S&P cash monthly chart -- can you see the inverse head and shoulders pattern...? h/s formations aren't very reliable... but the general trading public eats them up IMO...AOMO…. with any luck the right shoulder is now being tested around the 1300 to 1400 mark... and will be resolved higher. 2100 ± is the price projection time forward is around March-April of 2009 which would fit in with Armstrong’s PI. Finally, I believe short players will now give some back to buyers -- beginning this week -- they've had a great run these last 12 weeks. Come the 2nd week in February (actually pretty much the whole month) -- there's a TP or "time window" opening for trend change. It's possible during February 08 that another set of bad news... related to what we've seen so much of recently… will enter the picture -- maybe bankruptcies’, etc -- will hit the market and give the short players another reason to take the market down. Within this time frame -- the right shoulder could break and then we’d be likely to see a 20-30% sell off with more panic. I'm not a professional trader... so this scenario is basically an interested amateurs’ chatter. Lets see what happens. My Best, Chip

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