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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (15911)	5/21/2004 6:40:52 PM
From: Kirk ©	Read Replies (1) \| Respond to of 207085

You bettin against all those put buyers? Check out the graphs I put up of the put/call 10DMA vs various bottoms... and the top here suite101.com I'm not sure ifn this is wave structure, but I've noticed that declines seem to take the form of 1-2-3-dump where you get a peak, three counter trend rallies that fail and go lower, then a final "dump" that can consume 50% of the total decline. It seems this correction has had the 1-2-3-dump, then a dead cat bounce and we are now attempting to climb out as they keep buying puts... you clearly see this in the 2nd graph of the 4 on that link. Kirk

To: GROUND ZERO™ who wrote (15911)	5/24/2004 3:17:30 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 207085

>>In the past three days, we've seen three consecutive failed rallies, I think this is ominous...<< Add a 4th... I hear ya... The weekly SPX chart has failed to hold above the 1100 for three weeks... clear distribution , but unclear if it's buyers or sellers. The spiral off this chart... which has worked well... gives the SPX another few days at these levels... and perhaps forming solid base of activity to move higher. stockcharts.com[h,a]daoannay[dc][pb33!b50!b72!b150!b200!f][ilb6!lb12!ld20][j23649724,y]&listNum=8