dow should close 230 pts higher tonight, page-44

Exclusive interview with nonic
Goblin: You forecast the Dow would rise 230 points, but it rose 301. What went so wrong with your forecast?
nonic: All my forecasts have been overshooting these days, it's the extreme market conditions. When Perilya was $3 I forecast it would bottom between 1.65 and 1.71. It actually went to 1.39. Laughs. But if you went long the Dow last night against conventional wisdom, you wouldn't be too unhappy.
G: How come you were so sure on Tuesday that the Aussie market would rise on Wednesday when everyone else, including myself, was so bearish?
n: The downtrend in the All Ordinaries had gone parabolic. If you draw a set of steeper trend lines from the 1 November top you will see it reached the 4th stage of the parabola. Trends always fail there, within days. Tuesday's fall was so extreme it was a no-brainer that it was going to reverse Wednesday. So I bought some Paladin and Oxiana.
G: what do you see the Australian market doing today?
n: The all ords will probably go to around 5770. But my forecasts have been overshooting recently.
G: thank you very much, great nonic.
n: You're welcome. And welcome back from suspension.