ajtj99's Market Pulse

[mjk]

That's not outrageous at all. Though I think that 2800-3000 comes later in '05. And we may spend another couple months down here messing with this 1900-2000 area...perhaps all the way through summer. Speaking of patterns, you're exactly right, we're following something that's happened many times in the past (starting from '02), pres election and all...and it's not uncommon to go nowhere all the way through summer, which would mean almost a year of consolidation, then launch in the fall and after a short correction early in '05, have a huge rest of '05. Good suggestion not to short, the risk/reward is not there at these levels. Why not buy and hold for a year, we could have near 1000 points up coming.

I do think it's likely we get another low near 1920, buy I've already gone heavy long from below 1900 a few weeks ago, and will just add on any retests, and lighten up on strong advances, like now for instance.