Sunday, October 12, 2008

Sunday Fun

I just added the Cucca Twitter to the side bar. I'll have to think about this, I don't really know what it's about, but I may start doing the morning up dates in that area, to keep the crap off the main page, and just use this page for charts or some thing, or end of day stuff, I don't really know yet.

I love this kind of stuff, this chart comes from Matthew Frailey at BreakPoint Trades, you can access it at the public chart section at StockCharts.com, http://stockcharts.com/ , Public Chart Lists , he's about half way down the first page, or you can go here, Comprehensive Super Cycle Study Of the Dow , Matt does really good work, try out a free trial at his service.


I'm an idiot of course, but I see a couple of other item's on that chart. The Wave IV in the 1970's was not the bottom, as the first drop off the Wave V top under cut it, Matt is saying we may stop at the bottom of Wave IV from 02', which is the 50% retracement off the 74' bottom. Now, if we follow the pattern from the 70's, this current wave will under cut the 02' lows, so I might suggest that a target could be the 50% retracement level from the 1930's low to the 07' high's, which is 7,130, or there about's, this would give us the necessary under cut, and with the break of the 02' lows, all the super bear's would be out with their end of the world projections and stuff like that, and would essentially wash out anyone stupid enough to be in this market (like me, hahahahahaha).


And of course, the super bears are Bob Prechter and the Elliott Wave International bunch. Bob is saying of course, that this was the Wave 5 of 5 of 5 of 5 of 5 etc etc etc, of the Super Duper Grand Super cycle that goes back to the first dark ages, and we are heading into a Klondivian Economic Winter (I never can find that stupid word), as in a few hundred years history will show that the second dark ages began with the current clowns in this administration destroying the economies of the world with their spend thrift ways. Anyway, Bob's target is the red circle on the right, some time in 2014.



1 Comment:

sysin3 said...

sure looks like a bear-killer rally in the futures tonight.

not sure what got 'em riled up, probably some billions tossed at banks or sumpin.

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