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Strategies & Market Trends : Waiting for the big Kahuna
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To: donald sew who wrote (26730)9/7/1998 11:33:00 AM
From: bobby beara  Read Replies (2) of 94695
 
Since these Asian markets broke the trendline to the upside there may not be a retest of the lows

Au contrare mon frare -g-

Donald the n225 closed right in the area of resistance of the Jan and June lows and on the August downtrendline. I would interpret this as an ABC countertrend bear rally, unless the June & Jan lows are taken out on big volume in the next several trading sessions. Per your stretched guitar string, this may be a set-up. Any megalunei (crazy fool moon buying) effect is still a selling opportunity until proven otherwise IMHO -g-

We were at a similar point last year, after Labor we rallied hard into the October 8th peak, however last year we were locked nicely inside the bull trendlines, this year we aren't.

This year I think the rally will be used for selling. When everybody is bearish on the Cisco thread, then we will have a tremendous buying opportunity -g-

bobby b
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