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To: Perspective who wrote (148077)	8/14/2007 4:23:32 PM
From: Henry J Costanzo	Read Replies (1) \| Respond to of 209892

<<...we still don't do triple bottoms, right?..>> IMHO...FWIW...an alien concept...popular on an alien thread...LOL

To: Perspective who wrote (148077)	8/14/2007 4:48:18 PM
From: Shack	Read Replies (2) \| Respond to of 209892

You've crystallized my thoughts eloquently! Of all the indices with the greatest 'b' low possibility is the crappy old $XBD IMO. At the very least I expect some kind of bounce which I can watch. That sector has been the leader during the decline and it did not make a new low today, although of course a 'b' can. This is why I thought taking a few profits was a good idea. In answer to your other question, I do not trade wiggles so I can't really answer you regarding buying a gap down...but I probably would not and wait for your "higher probability set-up". Not enamored with the volume either, after all its "supposed" to be a 3 down! I think there's a half decent chance the bulls have a last gasp in store for us before we tank for real. I have exposure so if they want to take this thing down tomorrow they can feel free.

To: Perspective who wrote (148077)	8/14/2007 5:46:06 PM
From: skinowski	Read Replies (1) \| Respond to of 209892

still part of the corrective structure off the 8/6 low. Could well be, and we would be heading for a test of the 8/8 top - maybe into the supra-1500 SPX levels. But it could also be a developing setup for a continuous decline - like a series of 1's and 2's. We all sense that the market is due for a rally - but if the decline is for real, the surprises are likely to be to the downside. At the moment there does not seem to be a clear edge for a trade - I don't think I will be either a buyer or a seller of a gap either up - or down. I do have longer term short exposure, and for a long trade I'd want to see a good setup, and that will not happen at the open.