<<You could be right...scenarios around here say up tomorrow, or very, very soon....if not, then its a whole new ballgame>>
OTOH, I've been listening to various "market strategists" get trotted out on BubbleVision and elsewhere for weeks, saying that the down we are/will get will be "corrective" and a "buying opportunity". No one, and I mean NO ONE has suggested that we go down to retest the lows here (usually citing the same tired fundamental issues, ie, "liquidity" and "money on the sidelines", etc). Therefore, it has a chance. If 550 BP of easing didn't solve the problem, I rather seriously doubt the next 200 will (though it will create a dandy dollar-to-Euro carry trade that should tank the ClownBuck in SOIZE!) Certainly the daily charts have been oversold, and today's pull back caused a lot of oscillators to roll over (though I admit, I don't generally use 'em). Perhaps 25 on the VIX was as low as it gets, time will tell.... |
