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

To: MetalTrader who wrote (35813)	1/29/2004 4:46:41 PM
From: nspolar	Read Replies (1) \| Respond to of 36161

MT, funny you asked, just pm'd someone about that. This ndx top was obvious. Way too many bulls roaring about. After some EW failures I stuck with it and got this one more correct finally. I had to read up on and learn more about extended waves. For now these EW's appear okay, but as always are subject to further change. From a few days back: ttrader.com ttrader.com For longer term there are many bulls that still I believe have this as an IT correction that will last into March or so. Following that they have a new push, to a new high about mid year or so. I at present differ with that opinion. It is just an opinion, but I think the general markets have peaked and quite likely are now in the BIG C down, or call it the 3rd primary down. This would be the meat of the down run, for the whole bull market, at least for the SPX and DOW. This initial move is just underway, and if that is the case will bottom, and we will likely get a rip roaring rebound but not to a new high (per this scenario). Following that rebound it heads into the absyss. My plan is to dump near that first major bottom, re-enter near the top of the rebound, and at a minimum double up to a 2X position. I may even go to 4X or 5X. I don't know nor am thinking about the exact timing of the 1st rebound off the bottom. Just wait and see. I am not going to short individual issues. It is too much work to follow all that stuff. I may split next go between USPIX and URPSX - don't know which will be best. Just my thoughts at present, and if close there is a lot of hammering yet to come this year and maybe into next year. This market is amazingly generous to those who hit the long trends. For the daily traders - don't know I am not one - but it would appear to me to be tough. Just like yesterday and today in golds, lots of whipsaws until you get on the right path.