wfrazee
- 7am (CET). All we know, is that all the european markets will open down, down, down. How much? That's to be seen this afternoon. I only hope it won't be so much that it sends negative vibes back to the US-market. Let things calm down...
Newspaper titles vary with the editorial style: Those who are supposed to be serious -and understand simple percentage calculations- emphasize that the fall on the DJII is significant, but nothing like 87. Others (among them, some who have tried to talk the market down), are of course saying that Wall Street hasen't seen such a huge loss (in nominal figures) since 1987.
Having a look at the MVIS chart, I am wondering whether we are seeing the establishing of an head-and-shoulder formation. The surge up to around 8 is the left shoulder, accompanied by a lift in volume. The head is forming, however, not with the volume amount that one should expect (higher than the shoulder, if I've got the theory right). If this is true, both you, wfrazee and OldHack can look forward to picking shares at prices nearer to 6 than 8. The jittery market might prove to be a help in that direction. On the other hand, it might not BE a head-and-shoulder. And MVIS might well perform well despite the overall market...
It aint easy!
Kim |
