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Strategies & Market Trends : Longer-Term Market Trends
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To: John Madarasz who wrote (1340)7/11/2008 11:31:50 AM
From: AllansAlias  Read Replies (1) of 3209
 
Well, it did not happen yesterday, but my smeller was not so far off I think. Can't we just flush this mess and get it done? I have not listened to any business news in many days now, but I expect the are starting to see what's happening finally -- the "recognition" stage. I might be wrong, but I am guessing they have stopped chasing "leadership". It just makes the mind go numb when you consider how folks can chase strength, when all around is falling. It is truly incomprehensible to me.

So, let's flush this thing and move on from there to out long positions for the bounce.

ps: Canadian banks, which had held up pretty well, are getting taken out behind the woodshed finally. Gold is helping the TSX hold up a little, but our ongoing technical debacle in oil-related is not helping much. Canadians have not yet felt the same mutual fund pain as their American cousins.

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The charts are hinting at something unusual right now. I think there is a decent chance that today we see a cascade to the down side -- the sort that would make the evening news. I see the potential in the pretty pictures for a new group of failures and Hounds -- little hints that make me squint my eyes and think "What a tick... something ugly could unfold very soon."
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