Fuddle, just a little hint. Crashes happen within 10% of a bull move top. We're at about 60% below the 2000 top on the Nasdaq. That's not crash or waterfall territory.
Also, many things that worked in the bear no longer work in this market. I learned that in April/May 2003. You're only a year later than me if you accept that now, and I was later than others.
If you read charts, there is very little I can see that supports any kind of down here other than a re-trace off a new high above 1508 NDX.
All I see is inverse H&S formations, and H&S formations tend to work in the direction of the prevailing trend on the indices. That means if you're waiting for a regular H&S to work, you're probably going to be SOL.
Most of us here provide support for our views, so other than telling us the sky is falling, I really haven't seen much from you to support your case on a T/A basis.
F/A means little or nothing to me. I'd buy TASR at $85, no problem, with a stop at $75. Is it trash? Sure. Can it go to $170? Sure can. Is it worth more than $5? Probably not. Who the hell cares?
It's not my job to assign what a stock ought to be trading for. It's only my job to identify the trend it's in, trade the trend, and profit from it. I'll let analysts and Bozo's on those finance shows tell their fellow clowns out there that kind of crap.
It's not the bearish views or bullish views, it's identifying the trend.
Well, nearly all the charts I'm looking at turned up on the weekly at the March lows, and nearly all the monthly's are still pointed up or above the mid level on many indicators, which is positive.
Unless you're using quarterly charts or something, I can't see how anything negative can be read into this move off the March lows, which nailed a 55-day cycle turn. |
