I wish to state two points here, that might or might not of help
to any bear here.
1. This market hits the targets it is supposed to hit. The AB=CD
target is 1165, and it will be hit, in my best judgment.
2. After 1150 has taken, the next target is 1225 for the overall
top.
If you can, try to stay aside and let the train arrive where
it's supposed to arrive. The first 1/8 and the last 1/8 are the
most expensive eighth in trading.
1225 is the next big number, a Fib. retracement after 1115
(61.8%, I think). 1150 was the MA(20) on the monthly chart, a
border line between the bull and bear markets. 'Think big' is the
motto of this market, in my twisted humor. If it's not obvious to
everyone, it's not going to work (for the bears).
Why the overall top? Two factors: the "thin" zone ends
approximately there (1200, if I recall from Matt & Steve's
reports last fall), and "sell in May and go away" has not been
repelled yet, when there is something to sell. There was little or
none last year.
Lastly, the professionals will need time to distribute their
longs near the top, that's why I would expect a long rectangle or
something of this sort. Something like in Dec.-January 2009. This
market is a chess game, and those who practise analysis -- dividing
the whole into parts to make sense of it, ala science -- will never
get it.
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I wish to state two
Bears Flattened by Runaway Train
Posted by junkie on 16th of Mar 2010 at 06:32 pm
I wish to state two points here, that might or might not of help to any bear here.
1. This market hits the targets it is supposed to hit. The AB=CD target is 1165, and it will be hit, in my best judgment.
2. After 1150 has taken, the next target is 1225 for the overall top.
If you can, try to stay aside and let the train arrive where it's supposed to arrive. The first 1/8 and the last 1/8 are the most expensive eighth in trading.
I hope this helps someone.
Junkie, Thanks for the thoughts and
Posted by kalinm on 16th of Mar 2010 at 07:31 pm
Junkie,
Thanks for the thoughts and advice. Where do you get 1225 from and why do you think that would be an overall top?
1225 is the next big
Posted by junkie on 16th of Mar 2010 at 07:57 pm
1225 is the next big number, a Fib. retracement after 1115 (61.8%, I think). 1150 was the MA(20) on the monthly chart, a border line between the bull and bear markets. 'Think big' is the motto of this market, in my twisted humor. If it's not obvious to everyone, it's not going to work (for the bears).
Why the overall top? Two factors: the "thin" zone ends approximately there (1200, if I recall from Matt & Steve's reports last fall), and "sell in May and go away" has not been repelled yet, when there is something to sell. There was little or none last year.
Lastly, the professionals will need time to distribute their longs near the top, that's why I would expect a long rectangle or something of this sort. Something like in Dec.-January 2009. This market is a chess game, and those who practise analysis -- dividing the whole into parts to make sense of it, ala science -- will never get it.