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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk -- Ignore unavailable to you. Want to Upgrade?

To: Runomo™ who wrote (44565)	9/13/2009 10:45:49 AM
From: robert b furman	Read Replies (1) \| Respond to of 207358

Hi MO, This chart: Message 25937367 Now draw a downtrend line from the high in October 07 - touch the lower high on June 08 and extend it to current/future. That's a long term trend line that would be reasonable to expect some congestion as it overcomes the DT. It comes in right at your blue Fib retrace line. Gives us multiple congestion to overcome(DT line and your blue fib . Looking at the time axis - I'm eyeballing October earnings period?! Couple of possible plays there.Earnings come in vague and moderate - we get a hesitation and work through a 6-8 week handle on what will be an awesome 1 year long cup - reasonable to expect. We could stall here or at the next fib # and it will take earnings to complete the cup and Q 4 to finish a handle? Thinking it will take earnings beats and more importantly strong future guidance to get us up and over the drop off zone around 202.5. If Henry's 3 (of major wave 1 up from March low)is on (I think it is) we'll see easy sailing to 202.5. If we have a strong 3of 3 of Major wave 1, and 4 runs flat, 5 might well breakout up over 202.5 and the next big corrective wave 2 would test the 202.5 for support. Hopefully by then we're in 2010 earnings and global growth becomes assumed and we get to the major wave 3 up - hold on to your hats as shorts capitulate and we go blue sky breakout. Heck a guy has to have a dream.<smile> Bob P.S. thanks for sharing your excellent work with us.