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Strategies & Market Trends : John Pitera's Market Laboratory

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To: ajtj99 who wrote (9664)	7/13/2008 3:59:18 AM
From: nspolar	Read Replies (3) of 33421

aj, I had not been following GS, but took a closer look at it. I think it may be a very very good indicator stock to follow here, right now. Thanks for breaking it forward. I purposely viewed it from what I perceive to be the bullish side, and this charts indicates such. What I think makes this issue great is that it is a bear hater type of stock in a way so it seems. Additionally if it is to fall through, I think it has to happen soon. So I like the timing aspect. Per my perception it started correcting some time ago, and I tend to think the longer a correction goes on, the more likely it is that the preceding trend will regain control. It also bounced nicely off the trendline. If the next low is above the last one, it will be bullish. The end of the e = 2 as charted is also an exact 100 % of the time of the first wave up (as I have it). I am going to watch this carefully the next few weeks, and if it starts to break up some Sept calls might be in order. img154.imageshack.us I have looked a bit through the DOW .... will show GE and WMT charts later. I think they are both good indicator stocks as well. TF

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