Okay Candlestick Analysts, it's up to us to help spot out the bottoming stocks from this market selloff. I think a good set of candlestick analysis can show us some reversal patterns, whether it be a Hammer, or just any of the following:
Bullish Abandoned Baby: scifi.co.uk
Bullish Engulfing: scifi.co.uk
Bullish Hammer: scifi.co.uk
Any of the various Harami's(normal or cross)
Morning Star: scifi.co.uk
...and any others one may recognize.
Other Matters:
The selloff doesn't look to be over yet. At last look, the futures market was down at the 15 limit, and the Hang Seng was looking to open 10% lower. This is a world-wide market event, and I think it's incredibly fascinating to be a part of, regardless of the financial consequences. My personal portfolio is down 7% for today. However, it is merely a quotational loss, rather than a permanent loss of capital. As I see it, the business fundamentals of the companies I am INVESTED in are still firm. As I firmly believe that the expected revenues for these companies will continue over the long haul, today's quotational movement will be but a small blip in the long term stock price movement for my issues. It's when emotional swings like the one we're currently experiencing happens, that buying opportunities emerge.
My biggest hope is that many of the participants here had been relatively low on the amount of leverage they were using, or better yet, to be completely stripped of it.
I have been stripping my positions for the past two weeks, and completely went off margin at that time. I was expecting market weakness, but did not expect to take part of this history making event.
Monsieur Gonzo, if you're reading this, I hope you were able to take some of those profits from DELL at 100 when I mentioned it(or at least wrote some of those calls).
All of the participants here--you are my community for the stock market--thank you very much for being here with us all. I'm sure we've got some stories to tell about today and this week in general. I suggest we open up the thread for a little while to let us all blow off some steam.
Tell us your stories.
Regards,
Rainier |
