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Ira,
I am always intrigued by the consistency of your projections and
i admire your professionalism, but i must admit, as a newbie to
trading, i'm not learning a thing about trading from your posts.
You dont have to give away the farm, but it would be nice if you
could share a few tidbits on how you arrive at your targets with
some of us less seasoned traders. Perhaps you can reflect back to a
time when someone more experienced shared some good info with you.
Have a Merry Christmas,
Jerry
Ira wrote:
>
> Insanity has set in and we are currently trading on the greater fool
> theory. There is nothing in my work that says this market is heading
> into the sewer. It is currently overbought and is due for a
> retracement. I was roundly criticized by some for my prediction of
> 128-23 in the bonds and it went through that number like a hot knife
> through butter. My next target for the March bonds is 126-02, you don't
> want to know where from there. there is a target of 1246.60 for the
> March SnP and a couple higher then that. I have targets for the index
> of 1227, 1257 and higher. The rush to the internet and some hitech
> stocks is out of control. From the Seattle Times, "Amazon.com
> .....Monday surpassed Sears...... in market value when its stock price
> jumped to $318.75, up $32.063 .......and another $3.625 a share on
> Tuesday. That gives 3-year-old Amazon.com a market Capitalization of
> $17 billion ---- beating $15.8 billion value of the 113 year old
> Sears.....But Sears showed profits of $1.2 Billion for 1997; Amazon.com
> has never posted a profit." Think what will happen when all that
> retirement and 401k money hits the market at the end of the quarter?
> Are my targets telling me that the Fed might do something to cool off
> this rampaging market in a manner opposite to what they did to stimulate
> it in October. I am a technician and will do what the market tells me.
> Right now I am out and waiting for the trap door to open. When I hear
> the rope snap I will re-enter. Have a good holiday. Ira
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