Replies to post #889 on The Black Box

[wahz]

If my quotes are right, Europe not backing off, despite dow drop off. So lets hope some folks double up their shorts here;>)

[TREND1]

wahz
you wrote
Lots are expecting a gap and crap today which helps. Its not supported on an intermediate or long term techinical basis at all. However, its certainly possible and maybe even likely that we go into a range and see what fundamentals do.


Translation:
It's going to go up, if it doesn't go down, but not right away?(g)

But you are long, so I know where your money is, even if you
are in doubt about the future !!!!

[wahz]

We got that gap and crap that everyone but me seemed to expect yesterday. Now my two scenarios from the weekend would have been and still are:

1. A rally that takes us to a range of ~1403-1520, while we wait for fa to kick in for the next leg up.

2. a trading range market between ~1320-1460 while we wait for fa to kick in.

Obviously I am positioned for number one, and we are getting number two. The danger is we get worse than number two, which is possible but not at all likely, imo.

My indicators will tell me when to cut losses should we be getting something worse than number two.