On April 14, 2000, the Dow dropped 700 points. So, I don't think that it is impossible.
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When a speak of "a" bottom versus "the" bottom, Look at the Naz chart for 2001. It is clear that April 2 was "a" bottom and Sept 21 was "a" bottom, but neither was "the" bottom because we are lower than both now.
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The "slow bleed" is exactly what has convinced me not to give up my bearish views. This bear market has been very controlled. We need a selling climax for capitulation. I consider "slow bleed" and "capitulation" to be mutually exclusive.
I could be very wrong in my assumptions. I admit this. I could just be confusing brains with a bear market. I do think that an important consideration though is that I do want to be a bull. The implications of what I see in the economy are not good for anyone. I am just trying to play it in a way that my own personal outcome is the least painful. |
