The Stockmarket

wig · 10-04-2003

Here's my opinion for what it is worth.

The market has gained much since the lows in Oct of 02 and Mar of 03 as projected.

I am short from the current level and have been since I said a high was likely a few weeks ago.

I still expect a quick 2-4 week correction in October.

I had originally thought that Oct may hold a cycle high, but market action is suggesting otherwise (unless new highs are seen).

If we do break in October, we should put in a low that will lead to another rally. This will have changed my longer term outlook slightly.

I have 10,500 on the DJIA as a potential target.

The time to buy will be if the market breaks into months end. 8800-9000 and 950-960 are initial support levels to watch for.

The market is still vulnerable to a drop below 7000/DJIA and I fully expect this going into 2005 (maybe by end of 2004).

The ultimate low for eqities is not in yet IMO.

PS- be careful of correlating economy with financial markets!

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10-04-2003	#19
wig Members Join Date: Oct 2002 Posts: 1,248	Here's my opinion for what it is worth. The market has gained much since the lows in Oct of 02 and Mar of 03 as projected. I am short from the current level and have been since I said a high was likely a few weeks ago. I still expect a quick 2-4 week correction in October. I had originally thought that Oct may hold a cycle high, but market action is suggesting otherwise (unless new highs are seen). If we do break in October, we should put in a low that will lead to another rally. This will have changed my longer term outlook slightly. I have 10,500 on the DJIA as a potential target. The time to buy will be if the market breaks into months end. 8800-9000 and 950-960 are initial support levels to watch for. The market is still vulnerable to a drop below 7000/DJIA and I fully expect this going into 2005 (maybe by end of 2004). The ultimate low for eqities is not in yet IMO. PS- be careful of correlating economy with financial markets!