Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Minyan Mailbag - BKX



Note: Our goal in Minyanville is to remove intimidation from the financial markets and encourage an interactive dialogue among the Minyanship. We share this next discussion with that very intent.


Check out the PnF support level at BKX 101. Given TRAN breakdown, SOX breakdown, RMS breakdown, this looks like Hoofy's best hope for a turnaround. I've mentioned that I believe financials will lag the market breakdown because they are key component of (what I believe is) misplaced optimism. When (IF) they break, however, it is very possible that the point of recognition we've all been waiting for will accelerate rapidly, and this thesis I believe fits with the PnF indicators as well as (I think) Scott's analysis of potential wave III move down.

Kevin Depew


After putting in a new peak in a 5th wave off the 2002 lows, this index has just put in a "5" wave move down on the hourly suggesting at least another similar decline (3.5%) or greater once this impulsive pattern down from the 12/23 peaks bounces up in a correction from around current levels. For now all the pieces are in place for a completed pattern off the 2002 lows and the hourly trend is decidedly down. We would get one more new peak AFTER an ABC decline (the A of which is now completing) but that's a low probability. Better interp is that this index like the others is finished with its all-time bull market and that much lower numbers lie ahead in 05, though just my opinion and not advice.


< Previous
  • 1
Next >
No positions in stocks mentioned.

The informatio= n on this website solely reflects the analysis of or opinion about the perf= ormance of securities and financial markets by the writers whose articles a= ppear on the site. The views expressed by the writers are not necessarily t= he views of Minyanville Media, Inc. or members of its management. Nothing c= ontained on the website is intended to constitute a recommendation or advic= e addressed to an individual investor or category of investors to purchase,= sell or hold any security, or to take any action with respect to the prosp= ective movement of the securities markets or to solicit the purchase or sal= e of any security. Any investment decisions must be made by the reader eith= er individually or in consultation with his or her investment professional.= Minyanville writers and staff may trade or hold positions in securities th= at are discussed in articles appearing on the website. Writers of articles = are required to disclose whether they have a position in any stock or fund = discussed in an article, but are not permitted to disclose the size or dire= ction of the position. Nothing on this website is intended to solicit busin= ess of any kind for a writer's business or fund. Minyanville management= and staff as well as contributing writers will not respond to emails or ot= her communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.<= /p>

Featured Videos