Westie -- nice call during this downswing. Just a comment on something you wrote: <<In addition the ARMS index alert of 2 days not seen since 1987.>>
From everything I read, that ARMS index alert, historically, predicted a bottom by this Thursday, with a rally of 16% to follow. Now, there's nothing to say that we don't get the rally later, and in a revisionist move we say "actually, after that alert, the market will bottom within X days" where X proves to be our local bottom. However, all those who pounded the table using that signal and its historical predictive powers were wrong. I also agree, though, that that signal probably still presages a rally -- but heck if I know when it'll happen and how high it will go. Oh, and I believe that the ARMS 10 dma signal (which also called for a bottom) still has a few more days in its window, so maybe one of those signs will be right.
the freep |
