Donald, per your
>Everyday, there are just more and more technical signs that market is weakening. Im still holding to tomorrow and Wed being the interim top.
By the way, WFC is a CLASS 1 SELL obtain at the high tomorrow. Per candlestick talk, it is an awesome EVENING STAR.
My own feelings agree totally with you on this. I see Tuesday as the top, with the slide starting Wednesday morning at the opening. It may prove amazingly brief, however. It could even be over by Thursday afternoon, for the shortest correction I've ever seen. And no, it may not even go down much in those two days. However, I also think there is a chance that if Intel spooks the market it could go into a much longer and more serious funk lasting weeks, even perhaps a couple of months, and approaching a 10% correction. I kind of doubt it right now but it is a possibility.
About WFC: While I agree it is overextended here, it is a dangerous bet to go down because it may be bought out at any moment for (supposedly) 400. I think the financials are too hot right now for shorting for my tastes. In a correction they could be the only stocks which don't decline.
I think a lot hinges on what intel says in its conference call and how the numbers look. Still with MSFT around to burn off any clouds I don't see this correction as anything like last October's and will be surprised if it can overcome Gates and Co. monotonous good news. |
