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

To: Bull RidaH who wrote (37676)	2/24/1999 7:34:00 PM
From: Vitas	Read Replies (1) \| Respond to of 94695

David, tank you, tank you very much. <ggggg> I shorted and put-ed when the SPX was up eight - I knew I should have waited for the upper bb band, but I thought it might not make it there because of the severity of the down move coming. This pattern culminates in a day of major capitulation approximately 10-15 trading days from today. At a bare minimum we should get to the indices 200 day ma - 1130 on SPX. However, at this time the risk is enormous, and I would not be surprised to see a 1987 style meltdown. However, rather than look for that, I will concentrate on waiting the required number of days and see how far down the elevator stops. I would definitely not want to even think about catching falling knives at any point along the way, until at least the minimum pattern is fulfilled. I think that eventually we will get to Dow 6800, and maybe sooner rather than later. I really stress that it would be reckless to be long just about anything until this pattern completes. Vitas