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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (83802)	12/1/2008 5:48:10 AM
From: Gary105	Read Replies (1) \| Respond to of 94695

Dow bullish target not yet established. Prelim. S&P bullish target of 1020 as of this posting: stockcharts.com I expect Dow to retrace a little before establishing bullish target. If it did not the bullish target would seem ridiculous: stockcharts.com The dow needs to hit 8950 to establish bullish target. If the "X"s continue in the current column (which began at 7500) then bullish target would be close to 12,000. My expectation is a new column of Os before the X's begin. That would establish a more reasonable upside target once 8950 is hit. Re. the proactive vs reactive nature of P&F. If one waits until new target is established, then it can be viewed as reactive. However, if one goes long when the downside target is hit and short when the upside target is hit, then it can be viewed as proactive. (eg going long at Dow 7600). Thus far it has been on the money with the downside targets within the last few months (including the price of oil). It has given false upside targets on many of the major indices during that timeframe. BWDIK