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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (10219)	10/8/2008 1:08:25 PM
From: morokko65	Read Replies (2) \| Respond to of 33421

My current swing trading plan is to leg out of USPIX, and leg back into PMs& Biotech on dips. SPX 950 area (initial 2001 low)was a possible target. So we either stabilize before the 2002 lows (to fake out the bears) or blow through them (to crush the buy the dips crowd). I sold some USPIX in the last couple of days, I would expect the 22-25 area as a tradeable high on that one. I did sell some PMs and had a small gold short via SPPIX (I was drinking a little too much of Sinclair's kool-aid to go any more than a token short...) I think there is a rally beginning around election time, as folks respond to change. but that that rally will be very sharp & relatively short lived, maybe to SPX 1300/NDX 1650-1700. Similar to how some have described wartime: "You become so miserable that any change, even change for the worse, is welcome" When it becomes apparent that Obama or McCain cannot single-handedly turn 25 years of debt culture around by next May, the sugar coating wears off and the Castor-oil years begin in earnest. People forget that the first 2 years of Reagan's term were miserable for main street and wall street, and that the prosperity of the 1980s only really got underway in 1985. It will take a while for these structural imbalances to work out, even if a pop in mood/psychology is good for a 25% rally. just imho. good trading to you