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To: Paul Shread who wrote (30041)2/1/2002 4:39:56 PM
From: UnBelievable  Respond to of 209892
 
Not Much Reason They Can't Give It A Pop Monday Morning.

If AG gives them some cash I would imagine they will try to take out yesterdays high.

But once that is out of the way SPX 1083 - 6 calls out for a retest, which if it does not hold could send us to 1032.

FWIW -I have SPX starting the 3 down of the C of the correction of the September 19 - January 4 increase this morning. Its possible that this morning was the 1 of 3, this afternoon was the 2 of that 3, and we just started the 3 of that 3.

Regardless of the wiggle count we should be looking at a C to go with the A which started 1/9 and completed 1/22 and ran about 55 SPX points. The B ran from 1/23 until 1/25 for about 18 points. If the C is equal to the A that would get us back to the retest of Tuesday's low on the 3 of C the bounce at the retest is the 4 of C, and if support holds at that level would imply a failed fifth. OTOH if support does not hold the 5 should take us to the 1032 level.

Tuesday - Thursday are unusual looking but I don't believe invalidate the count.



To: Paul Shread who wrote (30041)2/1/2002 4:47:42 PM
From: Shack  Read Replies (2) | Respond to of 209892
 
Short in SOIZE!-g Here's my map:

Taking a step back from the wiggles. I have to think that bottom that non-tech put in is going to hold for some time yet. It was on good volume and since then we have had a clearly impulsive rope! I think it is likely an 'A' up and will eventually have a 'C'. But first it will retrace BIGTIME to recharge that ridiculous VIX. But afterwards there will be at least one more move up to go with it.

As for tech, I would short any pop from here. The volatility measures are outlandish and the SOX move looks very corrective and tired. Off the 22nd low actually counts real well as a double '3'. Likely means some early down on Monday to go with this morning's swoon and then a nice rally into Tuesday before we get a nice debacle there. I will be shorting in SOIZE but not until then. It should be timed nicely with the retracement in the XMI.

Have a nice weekend all.