Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: bearshark who wrote (13641)	1/29/1998 10:11:00 PM
From: Bull RidaH	Read Replies (3) of 94695

Hi Bear, Thanks for the wonderful charting site...Now I know where to go if my DTN/BMI crashes...concerning the DJI...I understand how that could be seen as a symmetrical triangle pattern...but I personally believe one should view the last series of declines (starting at the early Dec. High...going into the Jan. 12th low...which shows a clearcut series of lower highs & lower lows) as a parallelogram, which typically is a part of a larger Flag formation..The trick in this case would be to determine the starting point of the flag pole...If this happens to be the late Oct. low, the recent break of the parallelogram would target something near 9100...Worst case scenario, assuming the parallelogram is standing on its own, the recent break of the upper downtrend line will target the vertical width of the parallelogram added to the breakout point..(something in the 8400 range)...Before we get the next sizeable pullback/decline... Yes..I believe the OSX has to be one of the hottest places to have $$ right now..but I do expect one more good jerk down in the price of oil once this Iraq situation is "terminated" (figuratively or literally...probably won't matter). The cumulative 5 day closing Arms is certainly one of the finest tools I've ever seen to get one in sync with market direction...(sure wish I had found it earlier...if so, i'd probably be writing this to you from some remote island in the Pacific (named after me g). Good luck in the coming days...I'm looking for 1020-1025 on the march S&P futures in the next week...with the possibility of a further run to 1055 in the following weeks after the usual 2-5 day pullback. Best Wishes, David

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