Subject: The Market TOP Is In!
Date: Sat, 20 Oct 2007 10:36:01 -0700
From: Jas Jain
October 20, 2007
The Market TOP Is In!
Please see the attached "Why I am Still Bullish” by my friend George Ure, a long-time permabear, that confirms my call of the TOP in real-time on 10/11/07 (also attached).
Thank you, George! BTW, where is that bottle of wine?
Jas
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Updated:
Saturday October 20, 2007 07:55 CDT
Why I am Still Bullish
We need to have us a little chat about the markets here. While one headline this morning modestly claims that "Wall Street Remains Bullish Despite Data", I'd remind you that I've been one of those bulls for nearly a month now. Several readers have sent me emails like this one in the wake of yesterday little sell off in the markets:
"A favor please? Could you stay bullish a couple more weeks please, it is really helping my puts :)"
No problem! As I explained before, I am a steadfast Bull until the first of November. From there, I expect to be changing my tune 180 degrees. So, while I will outline the bigger picture - and my specific target number this weekend for Peoplenomics subscribers (Hint: It's under 10,000), I'll just say in passing that "You ain't seen nothing yet" and tell you that by the end of next week, that's when we should get our solid bounce and that's where I stop being bullish. That bounce, I think, will be the one to be sold into - aggressively.
http://www.urbansurvival.com/week.htm
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October 13, 2007
Market TOP Watch
2007-10-11 12:07:01 -- Jas: “NASTYQ! down 32 points and counting. Today could have been the top.”
2007-10-11 12:28:07 -- Comment by Rally Mitigation Team Member Bob: “The lonely and oft-repeated cry of the permabear.”
2007-10-11 12:38:28 -- Comment by NYCityBoy: “That is true. One side screams, “the bottom is in” and the other side screams back, “this is the top”.”
http://thehousingbubbleblog.com/?p=3554#comments
Only time will tell, but my call might hold. The sudden reversal had an eerie feeling to it and my comment was a real-time reaction to it. BTW, these were the highs for Dec Futures before my comment:
NDX: 2214.0
SPX: 1586.5
Dow: 14270
When two or more are breached I will post then and my call would be proven wrong. Until then it would stand.
Jas
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October 20, 2007
Update -- Market TOP Watch
2007-10-11 12:07:01 -- Jas: “NASTYQ!
down 32 points and counting. Today could have been the top.”
Index
Future Change From TOP on 10/11/07
NDX -64
SPX -81
Dow -710
So far the TOP was not violated. This top, if it holds for another 9 weeks (Dec. expiration) would prove to be THE TOP for years and we are looking at a minimum of 50% down during or before 2009.
Jas
As of 10/19/07 Close:
Symbol Last Change
.DJI $13,522.02 -366.94
.IXIC $2,725.16 -74.15
.SPX $1,500.63 -39.45
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