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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (4584)	2/3/2006 8:54:53 AM
From: venividivici	Read Replies (1) \| Respond to of 41476

I guess I'm taking a very conservative stance toward any bearishness, although not so conservative that I continually look up. I know I've been too bearish in the past at times, so I'm considering this a corrective move unless we start to get below the 61.8% retrace of the move since October on the NDX. That's at 1609 right now. My hunch right now is that this stops at 1630-ish. I agree with your statement that this short-term bearish count doesn't necessarily have long-term bearish implications. Initial indications this morning appear to point to more down to start the day. I am probably going to be exiting some short-side positions, then look for a bounce to re-establish them and look for that 1630 number.