Hi WLD,
No you weren't slamming me.
"to my mind - and i'm not saying i'm right - it's a "V" if i can go out for lunch and miss the bottom by more then 5%. if it's within 5% of "the" bottom for a couple of weeks or more, i don't really think of it as a "v".
it can look like one when you pull up a multiyear chart, but if you think about it in an "in the moment" sense, it isn't, really.
like i said, that's how i think about it, doesn't mean i'm right."
Well that explains it then. I mean I have NO idea if the day it turned it was violent, back in 32, and these were mutlti year charts, after all. It is an obvious v on the chart, over 7 months. Then there was a retrenchement, but not nearly as low, and the following rally was tremendous as Jeff has pointed out. The dow was up back to early 1929 levels on the second powerful leg up, into late 1936, and then 37 was a disaster. IMO, we could well track the entire 30's market this decade.
All the best to you. |
