Short Term Trading Member Forum

[BuzzOnDaBeach]

denmo, as I've said before,

No one that I've seen has had the consistent level of accuracy in overall market direction that you've had since the beginning of the rally in March 2003. While others were screaming capitulation last summer, you were screaming long S and P at 1109 as I recall. You didn't hit the bottom perfectly, but maintained your position and it turned out to be the right call. Now you're looking for a market turn down while others are screaming bull. P/C ration has become dangerously low, IMO, and we have a near perfect double top from the high six months ago at 2050 nasdaq. Although a good job report tomorrow may give us one last leg on this rally, I agree with your medium term bearish bias. Fundamentally, there is no reason for the climb to continue. I think we're likely looking at a pop and drop scanario tomorrow, or simple gap down on bad jobs data. I might be way off base here, but I called the August nasdaq bottom within 5 pts.

http://www.investorshub.com/boards/read_msg.asp?message_id=3741077

We both may be wrong, but I don't think so. Looking for a retrace here of nasdaq to at least NQ 1470 but probably 1440.

Buzz