Donald; RE:" Holidaze "
>The strong probability is that the DOW will retest 7400 within days. Right now most of Asia is down, and JAP down over 3%. YES YES I know it can change. HK is not open - is it a holiday (darn people over there always on holiday ggggggggggg).
...that's what we should do tomorrow, Donald - like a depression-era "Bank Holiday" (^_^)
ALERT: NYSE UNAVAILABLES -- the entire U.S. Financial Sector !
well... it's simple, really. We're near the bottom of a downwave, the second since we hit 7500 on 01-SEP, so this is the third support test.
At the last level, we had four waves, and tested ~8350 five times, plunging through on the fifth thrust.
We either bounce on the lowest perceived support, (say, ~7400 +/-50) or begin a plunge down to a new level.
The only thing that is certain, in my mind, is that we don't stay here - not for long, at least - even if Friday ends up in a wild ride long-legged doji.
It's a perfect Long Straddle position, IMHO.
-Steve |
