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To: The Freep who wrote (125714)11/2/2005 2:49:37 PM
From: The Freep  Respond to of 209892
 
"Blah blah blah housing bubble blah blah pop blah blah blah..."

stockcharts.com[r,a]dhcayiay[pb20!b50!b200!c20!d20,2!f][vc60][ilb14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][J5593496,Y]&pref=G

Only disaster so far has been for bears who short at the wrong times! Yikes.

Three wave move off the top and now...?



To: The Freep who wrote (125714)11/2/2005 2:54:51 PM
From: Henry J Costanzo  Read Replies (1) | Respond to of 209892
 
JPM.........Kinda surprised to hear you talk of a pullback to around 35 as if it were a major move, Freep...unlikely under normal circumstances..??

To me, pullback from 37.5 or so to around 35 seems de nada.......a logical, normal, unexciting pullback.....g.. You and I have already mentioned several features around the 35 level, and you've just added a gap to the mixture...Looking at the daily chart for this year alone, a drop of that size would seem to fit in very nicely here....gg

Agree.....IBM needs a good talking to....Today's performance disgraceful........Will have to take another look to see what might be brewing over there...



To: The Freep who wrote (125714)11/2/2005 3:42:08 PM
From: Henry J Costanzo  Respond to of 209892
 
JPM.......

P.S........Don't usually thimk in FIB terms for relatively small moves, but just did for JPM Oct rally 4.55 points to 37.49...."Normal" retrace up to .618FIB:...

.382FIB retrace = 1.74 ---> 35.75
.50FIB retrace = 2.28 ---> 35.21
.618FIB retrace = 2.81 ---> 34.68