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

To: nspolar who wrote (94677)	4/11/2004 2:54:18 PM
From: Shack	Read Replies (1) \| Respond to of 209892

I just see nothing bearish set-up in a stock that is hitting ATH, fibs notwithstanding. I just think its a low-odds trade but that's only IMO. Additionally Shack I think you guys over here a tad too bullish I don't understand why. How bullish do you think I am here? I am not making any grand predictions, all I am saying is there are no bearish set-ups and I stand by this. From a wave standpoint I think its likely we hit new highs on the indices before any turn down but that's all I think right now, and we are very close to doing that right now. Beyond those few SPX points I have no opinion. And just to clarify I am long stocks where I see bullish set-ups, I have no bias and am not guessing. When I bought YHOO it was because I saw a bullish breakout which portended new highs, we got that. I am long DELL for the same reason. I am still long MU because I think we are still well short of the A=C target off the 2003 lows. I am long HGSI because I saw a wedge where I bought the bottom. These aren't opinionated trades, they are bullish set-ups I bought in the midst of an 18-month uptrend which has not broken. This isn't what I want to do, its what I have to do, improving my odds is the mandate because nothing is certain, stops take care of the uncertainty. But the bearish case is off my radar until something breaks down in the larger time frames and we have nothing yet.