now that the boards are mostly bearish >>>>>>>>>
john rowton
everywhere i read on the boards now is bullish -g-, the worst is over
I do know one rule though: do not fight the fed.>>>>
there is another rule, "the trend is your friend"
in a bull market the bears come out at reactions to the trend and become loud, the bulls do the same in a bear market, people have been calling the bottom since the first week of sept -g-,
the market didn't follow the rule you followed, as a matter of fact, after the three steps there was no stumble, but a parabolic blow-off in nasdaq.
many think that the market will just turnaround on a dime after one rate reduction - maybe not, it didn't on the upside, the market is loaded up with stocks in the 25-100 p/e range heading into a couple of quarters of flat or even possible declining growth, takes time for fed cuts to work through the system, just like the hikes,
investech.com
the napm broke below the 98 low, this is not like 98, in 98 the nasdaq created a double bottom base off the asian crisis in 97 and 98, this time we are coming off a parabolic blow-off in which stocks were priced for a "new economy"
the level of bearishness required for a bottom may be higher than what we've seen at the present level.
as our market sage/maven who was quoted on rooters -g-,
volitility will remain, don't be too tied to one position.
stockcharts.com[L,A]WACLYYMY[DF][PB50!B200][VC60][IUB14!LA12,26,9]
wmt giant weekly shooting star across the downtrendline from the jan top |
