Replies to post #5033 on Short Term Trading Member Forum

[mr_cash4]

dennis, IF tomorrow we take out today's low, then IMHO the top is in as of Friday at NDX 1632 and now we head lower, just not sure how much (and won't know until the end of the week).

what *may* end up working for you is that the next 12-14 day cycle low is ideally due 12/16-12/20, and the O/E is on 12/17, and the QQQ MaxPain is at 38 right now - so, in that case, we should go down to at least QQQ 39 (i.e. 1 QQQ pt above current MaxPain) which is about NDX 1570, so you may be able to get out with a small loss.

however, until we take out today's low we are bullish, and then if tomorrow we take out today's low, again then by the end of the week we should have a pretty good idea of the target range for that next 12-14 day cycle low (ideally) due at O/E.

good luck.

[Manti]

denmo: Mitch is possibly shifting to your side (His calls have been quite good lately):

http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID641835