Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Wednesday, April 16, 2008

summary

There are some charts in my head I'd like to share, but... It's been a crazy day. I like big days one way or another cause I just get to kick back and watch things.... assuming I'm betting the right direction.

This is it...... So we are in Wave A of this current uptrend..... In order for it to be larger than the last one and for it to be more likely to hit 1400+ it needs to end in the 1380's to have a shot at the 1400+ range.... short of that we may..... just top out at 1400............

We should get a nice Wave B pull back, then a slow move up.... Now.... The reason I keep talking about these slow captitulative moves... where we all fall asleep.... is that it's a fairly common thing..... what has to happen is over the next months we need to prove the bear by quarterly earnings..... then after 2 quarters of progressively crappy earnings we may get a nice equities washout....

but a nice slow inching up, after this wave B pull back will be interesting to see.

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