Abet Chichi2

[chichi2]

Blustar On The Stock Market, VST Pull Back Likely

blustar Posted: Dec 20 2003, 06:20 PM

I continue to view any pull back early next week within the confines of an IT and ST uptrend. 1062 SPX holds support and I don't believe we break it. It could be that Monday's action may be the most damaging as far as technicals whereupon the late December/early January 2004 expected ST top may not confirm the new highs in many indicators.

SPX 1098-1100 by Dec 31-Jan 2 looks very feasible after the expected pull back Monday. December 18/19 was a 3 month cycle top. There is really no reason to sell into year end as the last 3 years have witnessed because of the lack of losses in this bear rally. It would make more sense to sell in January 2004.

The next most important cycle bottom is the 77 week bottom due January 15th where a ST low should develop. SPX 990-1000 should hold, but if it breaks that then 956-62 would be the last demarcation line.

I am currently short 1000 shares of Intel @ 30.55 expecting a target of 28 next week. We shorted, bought and shorted NEM last week for handsome profits for our subscribers.

Anyone interested in a FREE two week trial of my 3X updates daily should contact me at [e-mail].

Merry Christamas to All,

Brad "blustar"