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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (20286)	10/16/2002 12:47:56 AM
From: nspolar	Read Replies (1) \| Respond to of 36161

Slider, et al. EW holds that the top of the previous 4th is a magnet for ensuing corrections. With respect to the DOW this would be approximately 9000, per many EW counts. The Comp imo is more complicated. On a ST basis the top of the most recent 4th is just over 1400. However on a longer term basis it is about 2000. If this rally has legs, which remains to be seen but is possible, it could head towards the latter value (imo). TA is TA but this is another approach. If one winds up on the outside looking in, and the rally is somewhat sustained, don't force it and remember these numbers. There will be some real juicy shorts to eventually leg into. If Cramer is correct and this is a financial based rally, they should head the list. JPM from 26 (top of the 4th) to 5? Nice gains.