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To: Henry J Costanzo who wrote (145597)	6/13/2007 4:45:13 PM
From: hawkeyefan	Read Replies (1) \| Respond to of 209892

Na, SMH will roll over tomorrow and head down. I don't have a position in it.

To: Henry J Costanzo who wrote (145597)	6/13/2007 10:30:44 PM
From: robert b furman	Read Replies (1) \| Respond to of 209892

Pardon me but you're buttin into my territory<smile> Now this looks tempting: stockcharts.com Isn't that a pretty Macd reversal! High probability od a SAR in the morning-I just love those white candles - where is Roy when you need him? In the mode of Henry's voodoo the 50 and 200 are upward sloping after a nasty period of higher volatility - does that sound like institutional support and me thinks a sector rotation is close to proving itself. One has to love SAR reversals as they trend sideways and they flip flop at ever shorter time periods. Althouogh I don't see the DMI crossover yet - one has to tip ones hat at a nice bounce off the 200 sma - that is where institutions are suppose to provide support and it is always the most profitable when it happens on high volume distribution days as sector rotation (I Hope) moves into this laggard. Tomally we may get to launch to da moon? Bob

To: Henry J Costanzo who wrote (145597)	6/13/2007 10:47:12 PM
From: The Freep	Read Replies (3) \| Respond to of 209892

Wellllll... I dunno that the SMH move is signalling a new advace. Could be. Thing is, like the indices I'm watching, it's pretty easy to say it's in a C of B (or 2, I suppose) of an ABC correction off the high. This pretty much looks like we'd hit a high some time an hour or two after the open (or a bit later) not terribly far above today's highs before we start our C down. I'd be looking for 1520ish SPX/1925ish NDX for a C= A thang. The other alternative I can see is that the big sharp move down we had off the highs is a complete correction and we're pointed up. That'd be booooolish, and there's not real reason it can't be so. Still, it's not my favored at the moment. I just wouldn't fight it if it looked that way!

To: Henry J Costanzo who wrote (145597)	6/13/2007 10:57:59 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

I just summarized elsewhere the SPX wiggles in the following (few - g) words: The SPX rally out of June 8 low was rather impulsive, and today's action was a "legitimate" matching leg. Wave 2 (or B) zigzag in progress from June 8 low is a good possibility. Can't rule out a run to new highs -- but neither is there any evidence that the decline is over. The C of the (putative) zigzag would be equal A near 1521 - which is a touch higher that a 62% retracement of the original decline.