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Dear Nav,
And here I thought it would go un-noticed. The way I see Mr. Market is:
1. Market internals are not judged on one days action. Even today of the
13 sectors most watched, 5 were in the green and 7 in the red. I just find
it curious to see a possible top post so close to a market drop.
2. The sectors 5 days ago were 12 in the green and just 1 in the red.
3. All of the sectors are well above their 50 day EMA.
4. I have not met any Hurst Made Millionaires yet...facetious though it
may be. Every prediction I have seen is always "possible" or "could do
this" or could do that". Please do not take offense. I let you who believe
have your say.
5. 43 CANSLIM Breakouts ain't hay on such a day.
6. Take a look at the Dow stocks that led the move down...due for a
correction in my opinion.
7. Second term of first year President has seen an average 32% gain. We
are not there yet...and the economic impetus have not been felt yet.
8. Unemployment has not started its eventual decline yet. When it does the
market will peak further and choke up later. If you recall, unemployment
at one time in the not too distant past was 13%.
9. Government deficit is but a fraction of what it has been relative to
past GDP per cents.
10. The penny stocks and the public craziness has not even started.
11. People are still afraid to call this move that started around March as
a Bull move...preferring to call it a Bear Trap.
12. I could give mucho added reasons, but what the heck I am tired and Ben
said it best. Wait until October.
Bottom line is I am techno-fundamental and when the fundamentals do not
jive with the technicals or vice versa, I am not a believer. I said we
would "rock after Iraq" and when its time to stop, I don't think I will
need a chart alone to tell me.
But keep in mind, I am hedged with over 50% in cash...so when I see a
stock like WM at a bargain, I can pick it up. There are a lot more on my
watch list.
Sincerely,
John
> John,
> Can't let a post like that go unnoticed! What are the possibilities you
> see "Mr. Market" making and why?
> Navtej
>
> ----- Original Message -----
> From: <jvc689@xxxxxxx>
>
>
>> Dear Rhonda,
>>
>> I too enjoyed your post and chart. Also the use of "possible high for
>> the year" makes it a pretty safe call.
>>
>> On that basis, I think the possible high for the year may not have yet
>> been seen. We will let Mr. Market tell us.
>>
>> I would not be selling short just yet.
>>
>> Sincerely,
>>
>> John
>>
>> > Great work, much appreciated.
>> > n
>> >
>
>
>
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