Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: William H Huebl who wrote (25579)	8/29/1998 9:36:00 AM
From: Gary R. Owens	Read Replies (1) \| Respond to of 94695

Bill, Excellent point you may be the contrarians contrarian. Please wait until the rally then leave town right after I buy more puts <g>. gary

To: William H Huebl who wrote (25579)	8/29/1998 12:29:00 PM
From: RWS	Read Replies (1) \| Respond to of 94695

On Friday I took a small initial position in Sept. SPX 1040 calls. I'm hoping for an opening dip Monday to add to my position. The reasons: I think this shows that the VIX spike has ended in a spinning top candlestick reversal pattern and indicates market will go up. pw1.netcom.com On a 60 min chart, the EWave pattern from the July high is a classic zigzag pattern of abc with a and c containing 5 waves. This is a complete wave A correction which ended on Friday at 11:30. Here you can see that from the bottom came an five wave impulse wave which implies a much larger impulse wave B which can retrace 50-68% of the A wave down from mid July. tscn.com Lastly this chart questions the idea that we have a classic tilted head and shoulders pattern. Due to the increased volume on the right shoulder this pattern is suspect. The right shoulder should show decreased volume from head and left shoulder, but volume has been increasing. asiachart.com I am bearish and have made a bundle in puts the last few weeks. Those who think we're just going to drop on down aren't giving due consideration to the possibility of a very long bear market with a basically sawtooth pattern. RWS