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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: John Pitera who wrote (19199)2/11/1999 8:07:00 PM
From: Lucretius  Read Replies (4) of 86076
 
it was an alternate possibility. I thought we might go off the edge today (this was a low probability event) and sell off to 8700 and then get today's bounce back up to 9100 and begin the selloff after DELL's earnings on Tues. My other scenario called for a rally from current levels thru Tues and then the beginning of the end after DELL earnings. Same difference really.. except you get better priced puts -g-

the next question will be... do we crash right thru the L-T uptrendline at Dow 8000 or bounce for a few weeks the way the Nikkei did in 1990 (assuming of course that we crash -g-) I am leaning towards a bounce for a couple weeks to let all the dippers come in and get the McClellan Oscillator back up over the 0 line. THEN we can gap down across the Oct lows and plunge to 5700 in March.

new lows on the NYSE were fairly telling today... 100
A/D line was awful. The nifty 50 seemed to complete their right shoulders as traders are covered shorts from the previous day. UTIL hit new lows in its downtrend today and bounced toward the end of the day. The bond should totally break down very soon. Gold stocks closed right up next to their 4 yr downtrend... they're ready to break out and run when the dollar collapses along w/ all the other over priced paper.

time is running out.
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