.....well... that's 261% extension on daily.... should be end of 5 .... if 5 will be the end ..... ....unless what looks like 5 is actually 3...
Bullish Scenario 1. Another 100, 10, 20 points drop, the rebound to all time high. Strategy 1. Find a good place to buy a lot of call.
Bearish Scenario 2. A 200, 20, 40 points drop, follow by a rebound to all time high. Strategy 2. Find a good place to open long position.
Still No Action, Talk Only. "They want less talk and more action." http://money.cnn.com/2008/01/17/news/economy/fed_bernanke/index.htm Status. Did as said yesterday morning. Short positions closed at close. Scenario. The Market may rebound at open or after a 100 - 200, 10 - 20, 20 - 40 points drop from Landis' call at 1324. Then rebound 800, 80, 160 points or to new all time high. Strategy. Enter long positions when there is higher high.
Friday Low=12022.7305, 1312.51, 2323.29 Measured Move 1 4)c.5:2=13614.5303, 1498.85, 2727.55 4)c.5:3=12431.5303, 1378.7, 2407.3899 4)c.5:4=12931.29, 1429.09, 2503.55 4)c.5:5=11748.29, 1308.94, 2183.3899 Measured Move 2 4)c.b=14198.8301, 1576.09, 2861.51 4)c.3=12707.2598, 1406.1, 2539.81 4)c.4=13850.9199, 1523.5699, 2734.05 4)c.5=12359.3496, 1353.5799, 2412.35 Measured Move 3 3)=14121.04, 1555.9, 2724.74 4)a=12455.9199, 1370.6, 2386.6899 4)b=13614.5303, 1498.85, 2727.55 4)c=11949.4102, 1313.55, 2389.4999 Bullish Scenario 1. January Low = 11949, 1308, 2183. The Market rebound 800, 80, 160 points. Strategy 1. Open some long position on Monday when there is a higher high.
Bearish Scenario 2. People don't buy into the rumor of rate cut. The Market falls some more then rebounds 800, 80, 160. Strategy 2. Open some long position when there is a higher high.