ajtj99's Market Pulse

[mjk]

"I see many looking up and revising upside targets and such way above where we are trading without any mention of the overextended nature of the market. Nobody talks about that anymore. Yes, there are some seasonals coming into play."

I'm still looking up...we got the new high on the comp, now we get the minor correction into the end of dec, then jan is huge, and 2400 is hit by march, maybe feb.

Do you think 2200 in jan is possible? How about 2400 in March?

Posted by: mjk
In reply to: Justa Werkenstiff who wrote msg# 36805
Date:11/19/2004 8:11:25 AM
Post #of 38498

justa, with the signals you're getting, would a little down to 2070 over today and monday work, then up for 2 weeks taking out 2153 (2175)...THEN a few week 5% correction back to 2055.

Posted by: Justa Werkenstiff
In reply to: mjk who wrote msg# 36806
Date: 11/19/2004 9:32:58 AM
Post #

MJK: I have to take it day-by-day. Today, I don't see your scenario panning out. You seem to be looking for the Comp. to make a new high before the market corrects. The NDX scenarios I listed that took place, for example, all lead (with March being the exception) to an average decline of at least 4.5% over the next ten trading days.