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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Real Man who wrote (349506)11/27/2007 10:06:35 AM
From: stan_hughes  Read Replies (1) of 436258
 
Sooner or later we will get a countermove and backtest the 200 day MA which is now well above, not below, the index -- it's quite conceivable that such a bounce could materialize over the next 4 weeks for seasonal reasons

However, once it becomes apparent to the remaining faithful that Christmas 2007 was a washout, the banks are broke, the Chinese are finished prepping for the Olympics, unemployment is rising, and lowering rates isn't helping, there isn't going to much incentive to buy US equities -- so use any bounce you see to sell anything you have left and get short
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