Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: ViperChick Secret Agent 006.9 who wrote (14416)	2/26/1998 3:37:00 PM
From: Bull RidaH	Read Replies (1) of 94695

Lisa & Barbara: RE Shortened Correction: The market action today convinced me that i was wrong about this correction running into 1:30pm tomorrow, and about the minimum size. The wedge bottom that formed this morning, with a break of the upper wedge line, seals the fate of this correction as one that did not materialize in a big way. It terminated at 12:50 when 1044 was taken out on the upside in the march S&P futures.. :o(. I was looking forward to reestablishing longs at least in the low 1030's, but had to "go with the flow" when this terminating pattern formed. So it was basically a sideways correction with a truncated ending. I expect the market to now gun for the low 1070's on the march S&P's from here, about 170 -200 dow points up before the next significant correction opportunity. Good Luck, and my apologies for the false alarm. Yours, David P.S. The 5 day trin's movement to above 5 (a neutral reading) will suffice for a buy signal in a raging bull market, as this was the reading on this indicator when the last big rally began on 1/29.

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