My first impression on your comment of the similarities to 1929 was Ur nutz !!!!!!!!!!!,
THEN I had rethink that and say hey dont be an idiot and see if the guy really has a point ;O).
Thanks to traderjamie the charts were enlightening and of some help, unfortunately dont show enough
time after 87 to show the big picture. If the charts show 4 years after like the 29 chart.
The 4 years after eighty seven things sorta loly gagged around (highly technical term ;O)
and were higher than the previous high of 87, things never looked back.
Now the Naz is a much more radical chart I have to admit, these are different times however ,
I suspect FEDs will be cutting rates in the new year what is what got the dow out of its funk in 87.
2 very important dates that U can be sure will be met with shorts covering
Dec. 12 pres crap basically has to be sorted out, Dec 19 FED meeting, U can be sure that
shorts are gonna cover before this on the expectation of a changing of the bias to neutral.
I have to admit the max ugly downside to nas could be as low as 1600. Plain and simple
the whole world aint falling apart today or tomorrow, this is a whole new dynamic of a market,
the market never had so much visibility ,responsiveness, shorts (Im startin to see short squeezin ;O).
Economic times are NOT the same as 29 in all aspects. Unfortunately
I will not be able to debate U at length of the differences,
I simply dont have all the data to back it up, just general laymens knowledge ;O)
Thought prevoking comments and Nicholas and definitely one to keep in the back of my mind,
however; I think the pain is mostly over ;O)
Best Regards
WB |
