buy, page-16

and xjo didn't get right down into support at 6050 (the high of Feb 07) or .62 retrace at 6009, or 5912 (the preliminary aug lows) or 5645 (the march lows), which suggests an incomplete move. Almost invariably the incomplete move end up completing after a bounce of some sort. And if you see the recent highs as a false breakout up, which I do, then you'd go back to the momentum highs of feb 07 to find where the real bull market ended and discount it from there to get a solid target.

On the fundamental side, there is inevitably going to be more writedowns by banks in usa and invariably xjo is going to follow and invariably there are going to be xjo components that have new shocks from subprime. Maybe this year is the year of the santa crash?

cheers!