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

To: Death Sphincter who wrote (25931)	9/1/1998 1:41:00 AM
From: Bull RidaH	Respond to of 94695

Carl, I'm waiting for the right set-up for the next round of bets. I guess I needed a breather too, as I was kinda stressed out from this latest round. But I'm very pleased to have joined company with you in the "100+ S&P points on a put trade" club, locked in near the end of trading today. Bettin the house's $$$ sure is funner than betting your own, ain't it? ;o) I expect this globex rally to fade by morning, and for the Monday lows to be pierced on Tuesday. Then, a brief rally that tries to lift its head back up to the breakdown point (997 Sep Futures) that could run into Wednesday. Then sideways to slightly lower action into labor day weekend, followed by one last ditch rally the Tuesday after Labor Day. Then the crash phase should set in, and if the 887/6800 level gives way, panic and mass hysteria should rule for a period of time, probably not giving a firm intermediate term (2-3mo.) bottom until the last day of Sept. By then, we could have rivaled the 1st wave of A decline in 1929, which was 47.6%. See 29's 1st wave of A at link below, ending in Sept, '29, and followed by a whopping 50% rally!! decisionpoint.com Good luck and best wishes, and... Yes... I forgive you for scaring the h*** out of us all with your 1350 schtick!! <G> David