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Strategies & Market Trends : YEEHAW CANDIDATES -- Ignore unavailable to you. Want to Upgrade?

To: JoeinIowa who wrote (775)	12/28/2002 6:14:25 AM
From: Ditchdigger	Read Replies (2) \| Respond to of 23958

Well kids, can anyone make a bullish case for the markets over the next 3-6 months? My thinking is telling me moving down another 20% or so will be easier than moving up 20% stockcharts.com Looks like the naz hit the top of the channel at 1500, will it retest the bottom at sub 1000? Takes awhile for the P &F chart to reverse when using it on indexes..it has reverse down on the naz.. The dow has also reversed down and broke a double bottom, now sitting on a spread double..not a pretty picture..Long ways down to put in that other shoulder,arm, and fingers<g> (which I think is going to be needed for a real, sustainable rally) stockcharts.com Mainly in cash now, even let go of dfib at the close..Probably a signal of a short term bounce<g>..But I am going to close out my year in the green and be thankful..I suspect earnings preannouncements and warnings around the next bend..WMT is a prime example of multiple contraction in the need<g>..I don't believe enough speculation has been rung out of the market, we need to get down to that sick to the stomach area before we can sustain a market rise,IMO..The fact that we haven't had a late Dec rally tells me the little guy isn't to keen on throwing money into stocks..expecting more mutual fund redemptions, resulting in fund selling...still think we could get a decent 2nd week April bounce...I have to be patient, I have to be patient, I have to be patient........where's the incense and chanting Monks....;^)DD PS: looks like we cut through the 50 day ma's pretty easily, of course the ma's have been rising as the markets have drifted down..I don't believe housing numbers are going to help out much from here, and still expect a crash in re..That said, houses are still being snapped up around here..a house 2 down from me sold this week at $400,000..3 years ago the fella bought it for $160,000 new...something is way out of whack, of course he did sell it furnished<lol>, and has to be out in 9 days!