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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?


To: GROUND ZERO™ who wrote (11903)10/29/2010 8:37:34 AM
From: robert b furman2 Recommendations  Read Replies (1) | Respond to of 147660
 
I think we are near the end of the first wave of a major wave three up.

Just my guess and that is all it is.

We'll bump our heads on 1220 act weak.

That will put us into a corrective 3 waver down for most of December and beginning of Q1.

If it is ugly DIP BUYERS WILL GET SCARED OUT AS TO HOW FAR SHE DIPS OR MAYBE HOW QUICKLY IT DROPS ,BUT REALLY ALL IN A RANGE BOUND SIDEWAYS PATTERN.

IF MONEY FLOWS GET OUT OF FIXED AND INTO EQUITIES - THAT SHOULD BE WHAT HAPPENS SCARY HYPED RANGE BOUND.

This should give us a time to reload.

ALL in ALL we have a resilient economy.We need to bust the government unions and roll back the ridiculous pensions that have been manipulated by sharpies.We need to be conservative and invest in America's greatness and stop all this support of those who do not add to our greatness.We need to wake up and get real - there is no tooth fairy and your government is broke!

Retirement is a time to do something else - not boost your past 5 years of income (police and firefighters)so you sit back at home,become a drunk and die.JMHO

I've sold my 8% margin down to cash - I've done it a bit early,I'm trying to retire from day to day running my dealership and go to Wisconsin to remodel a commercial building I bought 4 years ago and need some cash to work with.

If my count is right we are in a major wave up that should take us to 1558 (spx) then an end of year 2011 corrective wave.

Could give us one more good time in 2012 and then our generation will have to be given a wake up call.Work until you die or you should have been saving and planning because your government has been stealing your money.

Older retirement ages and means testing - those that paid get zip - those that didn't pay get it all - but it is not much.

Inflation will then kill us, we'll need to be flush and getting into fixed investments that are very high in rate and will crush growth.

That's my story,I can't prove it ,but I'm sticking to it.

So we have a short term run up and maybe a bit over 1220,with a correction into 2011.

Unless the Bush tax cuts get extended we'll have an Obama tax increase and that will force a flurry of Tax selling in December.Another reason I've done my selling in October.I'd like to reload into the Christmas tax selling and have my 30 day wash rule behind me.If I have the nerve to buy into the doom and gloom.<smile>

I'll need your fearless help then!<smile>

Bob



To: GROUND ZERO™ who wrote (11903)10/29/2010 11:01:09 AM
From: TraderMann  Read Replies (1) | Respond to of 147660
 
As long as we hold above Wednesday's low of 1172 (which I believe is your sell signal), then we are fine and should move higher. It looks like the 1177 pivot will be tested yet again and if it holds I feel we move higher... I may have just jumped the gun by a few days. :) I said a week ago that this 1177 pivot was very important and should hold if we are to go higher. We tested the 13dma and it seemed to hold with a slight move (1 1/2 pts.) below on Wednesday. Per the TA and charts we move higher. I feel we will stretch the rubber band (market) again before a larger correction will happen.