| You know PS, I figured I would have more positively bullish models if we got to this level. I just got back from vacation and see my one model turned bullish last Friday. {Could they keep gapping this sucker up until they get their knew high they want and call it the 5th wave?} I use 2 models and they currently oppose each other (one has finally turned bullish). The more bullish model is prematurely bullish, though. Currently, that model looks like it wants to run to new highs. I have to admit, I wasn't even considering your higher level for the A-B-C count (because I expected my models to be all bullish by now), but I can see why it could still happen. Simultaneously, my bearish model, which has been most reliable for the past 20 years, is still showing down trend. It's about to turn positive though, and if it does I will put on my bull horns. I really need a week or two for this mess to clear up before I put much money into the game, especially on the long side. I run a good chunk of money where safety is the name of the game. Currently, it seems like a lot of speculation going on with these morning gaps followed by a bit of short-covering. Today seemed like dumb money following the short-covering. What will the smart money do? Right now I consider this low probability investing, so I think I'll have a little more patience, until I see the whites of their eyes. Good luck hitting your target. That looks to be my last target for the bear case, based upon my work. ;) |
