Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: morokko65 who wrote (1921)	10/13/2008 5:13:29 PM
From: Perspective	Read Replies (1) of 3209

I'm trying. There are a lot of places where last week now looks like it didn't even happen. Funny, but I don't think we get away that easily. I was looking for a wave four to dehedge, and that is what this appears to be. For the first time in a long time, I managed to be flat enough going into this rocket launch that I felt comfortable adding short exposure into the rally. Hopefully I'm not going to get run over, but an 11% up day on low volume seems like an unlikely way to turn this all around. It may be a while until we retest the lows in any way, but I'm skeptical that it can put together a whole lot more than this given the lack of participation by BKX. That, and it's options expiration week. Usually pretty good for a corrective move within a trend. `BC

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