Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (89909)	1/22/2004 11:59:56 AM
From: steve susko	Read Replies (1) \| Respond to of 209892

should be haunting for ebay short too. That monster closing on 70.

To: nspolar who wrote (89909)	1/22/2004 12:01:47 PM
From: Shack	Read Replies (1) \| Respond to of 209892

By that do you mean is anyone shorting the market? Not me, still too many good long set-ups IMO.

To: nspolar who wrote (89909)	1/22/2004 12:53:44 PM
From: NOW	Respond to of 209892

count me in.

To: nspolar who wrote (89909)	1/24/2004 6:41:11 AM
From: crustyoldprospector	Read Replies (3) \| Respond to of 209892

Hi nspolar, I got in USPIX in a big way this week. Whether this is an intermediate top or the final top, I think some $ is to be made on a down move that starts around these levels. I still can't see a clear count on the NDX. If it ain't clear, then I don't use e-wave. But on the S&P, it looks pretty damned clear to me that we are seeing the latter part of an ABC correction. I choose the Mar03 low as the beginning of A, because that is the start of the move that broke above multi-year down channel. So (rough numbers), 785 to 1015 = A, 1015 to 960 = B, 960 to (move equal to A) 1190 = C. A high volatility zone around C makes sense to me, so I am in the camp that says we go down a bit before a final push up. In any case, we are close enough to 1190 that I can sleep with a big USPIX position, but would be seriously disappointed if the down started here without me onboard. An alternative view is that we see some really serious volatility and an inverted mirror-image of the Oct02 low. That would get it down to 1020 (resistance area, coincidentally) before a final push to 1205. In that scenario, S&P peaks in July, and bounces around violently until the post-election crash. If all that sounds confusing ... take an S&P weekly chart, turn it upside down, and flip it to the left pivoting on Aug03, and you might see what things will look like going forward from Aug 03. In the latter scenario, there is some serious moolah to be made trading USPIX going forward. FWIW from a sophomore. crusty