We finally got the up here...just a couple days late. But this looks good...I'd like to see a nice strong close as well.
Also, I'm starting to lean heavily towards going all the way to 2220 in the next two weeks, then falling back to 2153 over the second half of dec, then rocketing in jan towards that 2368-2400. This as opposed to getting 2175 then falling 5%. Key will be what happens when we get 2153 IMO.
I was trying to figure out what we'd do after 2153...I think the chances of 2220 are growing...
Posted by: mjk
In reply to: dieselfuel who wrote msg# 21091
Date:11/25/2004 10:22:44 AM
Post #of 21265
Hey diesel, happy thanksgiving first of all...hope you have a good one...and everyone else on the board too.
Second, since we did rise yesterday, it still seems to me that we're stuck on the first path towards 2153. All my reviewing a couple days ago may come in handy later, but for now, it seems like it was unnecessary. So now I think in the next two days, we could have a nice up day right thru 2112.
But what I'm looking at right now is some kind of short term peak above 2153 around Dec 6-9...so 7-10 trading days from now. And I still think the sox gets carried up about 6% in that time to 460 (the 300sma). My first target on the comp is 2175, but I'll be watching for higher than that for signs that the pullback is very minor before launching higher. I've still got about a 50/50 chance of a 5% pullback from 2175, or going towards 2220, then falling back to 2153. I think one thing I'll be looking for is if we get 2153, then fall to the 9ema over a couple days, then bust thru 2153...or if we bust thru 2153 on the first attempt. This may provide a sign as to how high we can go above it.
AI
