AA- Ramp looks suspect to me, and, if it were to breakdown, I think a low below yesterday's would bring some really, really spikey fear (I bet we'd see a bullish diversion on fear indicators if we get back to yesterday's lows...). Am hoping for such.
I still think we are close to good, playable bounce here very soon (timewise). I read the USA's finest "read while on John" newspaper, USA Today (written at 5th grade level, but good sports section, and gets you headlines easy/quick)...I've never seen their business section so negative as the last week, two...almost every story/quote/etc. is "stocks can go a lot lower/no floor"..combined w/other headlines I'm seeing (local paper-a major one- similiar), and my informal J6P poll...makes me think that the groundwork is getting set here for bounce.
However, I'd love to see that last low (w/big fear)....so I guess we are in same camp there now.
On a lighter note...you are aware I just moved to a new town 6 weeks back....this past week, I've received 3 calls from lawyer(s) and dudes who work at major Wall Street firms (but work local), wanting to get together for a drink immediately. I met all these guys weeks ago (mostly "kids" stuff, and we talked about the markets then and they thought I was a loon for my bear views. Hadn't talked to them since. Suddenly, I'm a wanted commodity again. Funny how that happens-g |
