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

To: ratan lal who wrote (17882)	5/4/1998 2:22:00 AM
From: Vitas	Read Replies (1) \| Respond to of 94695

Hi Ratan, No, I'm not implying anything about the short term. From this point, I think that the market "will float like a butterfly, and sting like a bee" as it arrives at an intermediate top a couple of weeks from now. I think the key to making money in leveraged plays in the market is trying to identify key intermediate turning points. That means sitting it out when when you don't have solid clues for a solid move to go by. I originally thought a few days ago that the market would take its sweet time recovering into a top in a couple of weeks, and whammo, its been charging ahead. I was wrong. I'm guessing that after Monday's or Tuesday's action we may have better clues as to a short 2-3 day pullback, but I would not try to play the pullback at this point. On the other hand, if we get the pullback, we may get some clues for a further pop to the upside. If you don't have advance-decline data and the software to manipulate it with a great site for the McClellan oscillator and the summation index is at: decisionpoint.com Read post #16871 on this thread for what to be examining in terms of prior occurrences of the triple declining summation "slamation" pattern. If you have any further questions, fire away. Don't forget, this is just my opinion-guesstimate and I could be totally wrong about the whole deal. Vitas