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 (80324)	7/4/2008 5:27:40 PM
From: Kailash	Read Replies (1) of 94695

Hey -- you need to put your money where your mouth is! <g> I don't think this is a safe place to be long. Technically, we definitely should bounce, but if you look at the declines at this time in 2001, they were deep drops with brutal bounces. With continuing dismal news -- and, as vi pointed out, no Fed intervention -- you need to give the bears a big hunk of meat at once to distract them and get a critical mass to bail, and then you squeeze the rest of them hard in the balls at once. That's where we come in and buy. If you look at the bottom channel from Aug 16 07 through Jan 22 and Mar 10 08, we could even touch 1200 briefly. Sounds unlikely, but that's where the channel is, and it could give us a bounce to around 1350, eyeballing here. On the way down we will get some fakes, and it could take some weeks; this is still going to be challenging to play. The only thing that's certain is the general direction. Here's to Monday! If we're crashing, we may get a fake gap up. K

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