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Strategies & Market Trends : Waiting for the big Kahuna
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To: GROUND ZERO™ who wrote (88085)6/17/2009 6:22:14 PM
From: Gary105  Read Replies (1) of 94695
 
Any thoughts on the longer term trend? Prechter says market is peaking with 50-80% downside potential. This would mimic 1929-30 where market recovered until mid 1930 when 50 d and 200 d MAs converged, then resumed downtrend. I'm not a day trader, holding positions for several weeks or even much longer. I've recouped last years losses during recent months on small to midcap retailers, consumer stocks and oil drillers. Im thinking of taking money off the table. Comments welcome
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