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

To: Moominoid who wrote (7251)	6/20/2008 12:14:50 AM
From: skinowski	Read Replies (1) \| Respond to of 41420

What's the rationale for the bullish stance? I'm just curious. The trend is down since October, and the rally since March is quite choppy - and it failed... it seems so far - since the decline since May 19 looks a lot like an like an impulse.

To: Moominoid who wrote (7251)	6/20/2008 12:25:34 AM
From: skinowski	Read Replies (2) \| Respond to of 41420

Examining SPY -- strength tomorrow would suggest that the impulse from 5/19 is completed, and the stock may rally to test $137 - 139. Weakness tomorrow... could be a clue that we may be on the way down in W3 of 5 (5 having started on June 6/17) edit - another rather bearish version of reality is that we finished 5 of 3 (counting from May 19) and are ready to BEGIN the 5th. Bullish alternate? An ABC down since May 19, and we're off to new recovery highs. I don't believe it's likely, but it's possible.