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Strategies & Market Trends : The Bird's Nest

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From: clutterer	6/8/2010 1:08:02 PM
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"Then, there's the latest from Robin Landry to consider in a note to his investment colleagues last night: "The market decline is continuing to follow my expectations but we are nearing a possible short term bottom which will allow a rally that may scare some. The best count says we are in a small 5th wave decline that I believe will reach the 9500 area before a rally of about 300-400 points in the Dow. Once this bottom is in, and the rally begins, I will try to narrow the targets for the rally. One thing to keep in mind is that this is just a small rally and we are going to continue to decline to the 8500-8100 area before Intermediate wave 1 of P3 is completed if my count is correct. The rally for Intermediate wave 2 of P3, will be similar to the rally from January 2008 to May 2008 which was Intermediate wave 2 of P1, the market then turned down in Intermediate wave 3 of P1 from the high at 13132 area to the low on November 17 2008 which bottomed around 7450 area of the Dow. That was a decline of around 5700 points in only 6 months. In other words, we have a long way to go in this bear market. Since P3 is usually larger than P1, surprises will be to the downside and the rallies may not be as large as expected. CAUTION is warranted."

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