nuc likes duk -gg-
now that everybody is fat and happy and complacent, i'm going to present the ultrabear scenario, i'm starting to have the bearish heebee jeebes, the opposite of those heebee jeebees i had before christmas, brad and jennifer are sure too split -g-
from the a/d nas chart we may have two legs down, mid october and the late december early jan bottom,
now the ultrabear scenario, would include a third leg down in nas that would be similar in magnitude to the other two legs down and we would see gold break out of it's giant falling wedge, creating a ba boomba wave 3 up in the xau.
given the super parabolic nature of the nasdaq chart from the 98 bottom to the march 00 top, i wouldn't be to sure about the length or strength of any countertrend rally or bottom call.
galbraith: "the speculative episode ends with a bang, not a wimper" (i think he said that -g-)
i see lots of excess in plenty of tech charts that could be wacked, and i don't think we will see a true nasdaq bottom till the boatload of investors have given up on tech, maybe that was the case on december 20th, we'll see, at least it was the case for a rally to this point.
b |
