Due to a very unfortunate mixup on switching my phone service, I have lost my DSL connection and won't get it back until next Thursday (so they tell me). I guess I get a forced vacation from the market, but I'm afraid I can't do any proper analysis without all my tools and my phone just doesn't have them. Continue to watch the USD and the key levels I posted for signs of a more serious correction.
Have a great weekend!
Friday, September 18, 2009
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Worth repeating ....... Prechter and EW failed to estimate how powerful the Fed is, just like 2003. Calling a top for the last 100 points has proved foolish. It is way past time to consider that the catastrophic fall happened already and finished in March .... OR is years away.
ReplyDeleteHi Rich,
ReplyDeletehope you did not miss today's falling, and hope you got your internet fixed soon.
David
Elliott - If I'm not mistaken, EWI didn't get fully short until 1039, so right now they are only in the hole for a little more than 40 points. And since cash has outperformed the stockmarket for the past 10 years, I'm not sure the fed is as powerful as you think they are. I have to say it looks like primary wave 2 is already working its psychological wonders on you. I'll have to keep your comment in the archives once we make new lows in 2010.
ReplyDeleteDavid - I had to look it up on my cellphone but it was nice to see it on the charts once my service was back. Once we break some key levels, I'll get much more excited.