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

To: rcksinc who wrote (8048)	7/25/2008 8:28:49 PM
From: skinowski	Read Replies (1) \| Respond to of 41419

Hi, S! Thanks... Yeah, vacations are good - and this one is a long one for me. After a week or so in Yellowstone we are off to the "civilized" part of the trip - Seattle tomorrow, and then a cruise to Alaska - which is also going to be a re-union with some old friends. Looking over the action, there is no change since what I saw yesterday: Message 24788614 COMPX rally looks a little more like an ABC up.... SPX looks potentially more bullish. If next week it begins to decline again, I'd watch the SPX 1220 area as the line in the sand of sorts for the bullish case. This is where the rally of the past several days would be retraced by 78.6% - and also, the second leg of the decline (if we get one) would be about equal the first (if the decline starts from around here). Below 1220 I would have to assume - unless proven otherwise - that the 5th wave down since the May top is in progress, most likely to new bear market lows. If this proves to be the case, the interesting trade would be a long - after the decline plays out.