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

To: Barbara Barry who wrote (17972)	5/5/1998 9:07:00 PM
From: William H Huebl	Read Replies (3) \| Respond to of 94695

BB, When you are an options trader, you MUST be nimble and psyche out the markets. You MUST be able to find EVERY weakness in any thoughts about where the markets are heading and, when it appears you are right, take advantage of finding errors in the general forecasts you hear here and on TV. Last Friday, a number of people on this thread were SURE the market would tank on Monday. I suggested otherwise and sure enough, the DOW went up 1/2% or so. This a.m. I spotted weakness in the S&P and NAZ afterhours and suggested the market would sell-off today. Now my indicators do NOT show weakness when they should so that suggests the real possibility of an attempt to test the low of over a week ago, but a failure and a move up. The h&s forming also has an inverted counterpart which could give us 3-5% on the upside if violated. THAT would be the unexpected thing to happen... BWDIK??? Bill (and I am not committed that THAT forecast... could change on a dime if things change tomorrow.)