Adobe Systems deal off with Quark (not sure of the name on that one)
WorldCom Inc (WCOM) 47 3/4 +11/16: telecommunications services company says receives FCC approval on proposed
merger with MCI Communications (MCIC 59 1/4 +7/16); companies plan to close deal shortly..
David...another thread that has alot of intraday discussion by the minute on the overall market
Subject 8128
My buddy Freddy...the Speed Demon...tends to post his parabolic numbers over there...
jay....the thing is....Kurlak is known for coming out during options expiration week....and that smacks of manipulation....
I confirm on the 5 day trin...I get 4.01...so given how the quotes can be different every day depending on the source etc....this could count as a sell signal....it is close....
I prefer when it is solidly under 4, though...
To: +Arik T.G. (27816 )
From: +David Plonk
Monday, Sep 14 1998 4:42PM ET
Reply # of 27849
Arik,
You still got your bear claws dug in deep to this Bull, or did you break a nail? <g>
Carl Hittle and I've been discussing a scenario where the move up from the bottom on
9/1 into the high on 9/2 was Wave A. Then we proceeded into a complex B with a of B
(down) completing on 9/4's low, then b of B (up) completing on 9/8's high, then c of B
(down) completing on 9/11's low, finishing up the B wave. Then from 9/11's low, we
began wave C up, which would be the bookend to the 9/1-9/2 rally. With this 9/1-9/2
rally only taking a day and a half, and running 80 pts, that would have had us looking for
the end of this C wave this afternoon in the 1045-1050 area on the Dec. S&P (1035
-1040 SPX).
Low and behold, we ran into a wall this afternoon, and DID have some downside action
late in the day that COULD be the beginning of the Next large scale wave down. If this
is the case, I'd like you to consider that this could be the beginning of Wave 5 of 1
down, instead of 3 of 3 of 1. Wouldn't that make more sense with your moving average
theory, now that this upward action confirms this as a significant upward correction at a
minimum?
Lower wave action would not be totally confirmed until we break that rising
channel/parallelogram line that we've discussed, which I have at 977 as of market close.
That'd be too much to wait through, however, for an expiration week option play. What
would you use as a trade igniter? Bull/Bear coin flip, perhaps? <g>
Regards,
David
P.S. 5 Day Trin Alert!! closing today at 4.04, after spending much of the day at lower
levels, this is probably good enough. Any Favors/Astrikos nuts out there know the next
Bradley turning pt.? Wasn't it set for mid Sept.? Break 1-9 for a Bradley Check...Come
on!!
Next
Previous |
